HSBC China's second Jade Centre opens in Beijing

HSBC China’s new wealth management center focusing on serving its Jade customers opened in Beijing on Monday.

The new Jade Centre is the first of its kind in north China and the second on the Chinese mainland after one opened in Shanghai last year. The aim is to accelerate the expansion of HSBC’s wealth management business and establish future banking outlets integrating financial services and on-site experiences.

HSBC said its Jade centers not only provide diversified financial services, but also exclusive space for multi-dimensional communication and an exploration of enriched lifestyles. With their “wealth management + lifestyle salon” model, the centers will be a special venue for bespoke lifestyle events and customer experiences.

Richard Li, executive vice president and head of wealth and personal banking at HSBC China, said in recent years it had continued to invest in customer experience, digital channels, services and products and talent cultivation “to capture the opportunities of wealth management business.”

Since the introduction of Jade on the Chinese mainland in 2017, the bank saw its assets under management and client numbers increase steadily.

“The size of the frontline team has even expanded about 30 percent compared with 2019, to ensure we provide the support our clients need. Looking forward, we will expand our reach to other cities according to market needs,” Li said.

HSBC Jade has achieved double-digit growth of global customer numbers in the past three years, currently serving up to 160,000 customers in eight markets worldwide, according to Toby Chan, head of Jade & Top Tier, Wealth and Personal Banking at HSBC Group.