HSBC picks Thailand for its second Southeast Asian private banking business

HSBC picks Thailand for its second Southeast Asian private banking business

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

HSBC Holdings PLC said on Monday it had set up a new private banking business in Thailand, the Asia-focused lender’s second onshore expansion in Southeast Asia, as it seeks to grab a bigger share of the growing rich population.

HSBC said the new private bank, which is in one of the most promising wealth markets in Asia, will help it provide clients with access to international capital markets by leveraging its existing infrastructure of advisory and investment methodologies in Asia.

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