HSBC Private Banking in Singapore launched a dedicated independent asset management (IAM) desk catering to the needs of family offices and independent advisers managing wealth on the behalf of their clients.
The desk will work closely with the IAMs to ensure the bank “delivers the best service” to its clients.
The IAM industry is a rapidly growing sector in wealth management and growing client awareness and demand for independent advisory services will continue to spur the development of specialised IAM advisers.
Philip Kunz, head of global private banking for southeast Asia at HSBC Private Banking, said: “A dedicated IAM desk enables us to expand our reach into this fast-growing segment.
“Clients increasingly have more options and by establishing this desk, we are supporting them in their wealth ambition with capabilities underpinned by our international footprint and full private banking suite of capabilities at scale.”