HSBC Sets Up New Private Banking Business in Thailand
HSBC Holdings said on Monday that it had set up a new private banking business in Thailand - now its second onshore expansion in Southeast Asia.
HSBC said the new private bank will help it provide clients with access to international capital markets by leveraging its existing infrastructure of advisory and investment methodologies in Asia.
"In Thailand and across ASEAN, private wealth is often created and built through business growth and expansion and as intra-regional trade and activity rebound, we expect commercial, people and wealth flows to increase”, Philip Kunz, HSBC's head of global private banking for Southeast Asia commented.
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