HSBC Launches Premier Elite To Meet The Needs Of High Net Worth Customers

HSBC has just launched its brand new Premier Elite offering which provides high net worth individuals perks to suit their social status. Premier Elite is tailored to meet the growing needs and aspirations of Malaysia’s growing wealth segment and perfectly synergises HSBC’s core competencies of international and wealth management services with lifestyle solutions.

According to HSBC, Premier Elite will offer high net worth individuals with a whole new level of banking services including bespoke structured investments, dedicated bond services, wealth and legacy preservation, international banking services, and privileged elite concierge services.

During the launch event, HSBC explained that Malaysia is quickly becoming a wealth hub, with up to US$307 billion worth of liquid assets being held by affluent individuals (those with wealth balances of USD 100,000 and above) in 2022. This amount is even expected to grow at a CAGR of 3.2% over the next few years. 

It was also mentioned that as the wealth balances held by this group of individuals expands, they then transcend into the high net worth category (those with wealth balances of US$1 million and above) which dominates 53% of the affluent wealth balances.

“The Malaysian economy’s growth trajectory is expected to accelerate in 2024. This will be driven by measures which have been put into place by the Government to attract greater foreign direct investments and catalyse improved domestic direct investment flows as articulated in the Madani Economy Framework and the New Industrial Master Plan. These efforts will benefit the economy, and in turn, bolster Malaysia’s wealth narrative while also supporting the country’s transition to a high-income nation,” said Dato’ Omar Siddiq, CEO, HSBC Bank Malaysia.

“The wealth paradigm in Malaysia has shifted with affluent customers now spanning a wider range of generations and personas, with increasingly sophisticated needs and aspirations. At HSBC, we are harnessing our international strengths and leading wealth capabilities to deliver a solution to address the desires of this ever-expanding wealth segment. Premier Elite has something for everyone, to meet their needs across different stages of their life, and has been skillfully crafted to provide all-round wealth, lifestyle and health services and privileges to our high net worth customers,” said Linda Yip, Country Head of Wealth and Personal Banking.

What does HSBC Premier Elite have to offer?

During the launch event, Yip also laid out some of the offerings and benefits that are available via the Premier Elite service. The service itself is open to new HSBC/ HSBC Amanah Premier customers that have a Total Relationship Balance (TRB) of RM3 million or more with the bank. Existing HSBC Premier customers will also be automatically converted to Premier Elite if they can maintain this TRB level.

Some of the key features of Premier Elite include:

• • Wealth solutions: Priority Product Preview for the latest wealth solutions, invaluable wealth insights exclusively curated by HSBC’s Chief Investment Officer, bespoke structured investments across multiple asset classes, and more.
  • International banking services: Gain access to international tax advisory support by a HSBC partner. Manage all your accounts from one place online and make fee-free transfers between them with HSBC Global View and HSBC Global Transfers.

• Elite concierge privileges:
• • Lifestyle benefits: Priority booking and special complimentary refreshments/dessert at selected Michelin-starred restaurants and Asia’s 50 Best Restaurants, 12x complimentary access to exclusive airport lounges, and more.
  • Medical services: 24/7 global medical assistance, worry-free hospitalisation at selected medical institutions, arrangement of emergency medical evacuation and repatriation while abroad.
  • Complimentary limousine services at selected airports.
  • Exclusive discounts on car and private jet charters.
• Health and protection privileges: Comprehensive medical coverage with a high annual limit and no lifetime limit, including an option for outpatient specialist visits and daily cash benefits during hospitalisation.
• Priority services: 24/7 immediate Personal Premier Elite Assistance and dedicated senior Premier Relationship Managers and a team of senior wealth specialists with global expertise.