Latest news with #HSBCSingapore
Business Times
25-06-2025
- Business
- Business Times
HSBC sees ‘huge opportunities' for Singapore businesses in India's fast-changing economy
[SINGAPORE] Companies based in Singapore are well-positioned to seize 'huge opportunities' in India's rapidly evolving economy, said two senior HSBC executives in a recent interview with The Business Times. Key areas of growth include technology, healthcare, renewables and data centres, said Wong Kee Joo, chief executive officer of HSBC Singapore. 'From a renewables perspective, since September 2023, Singapore has invested close to US$780 million (in India),' he noted. He also pointed to a 2024 commitment by Singapore firms to invest S$5 billion in the state of Tamil Nadu, including a S$500 million investment by CapitaLand Investment in business parks, logistics, warehouses and a data centre. Singapore has been a leading source of foreign direct investment (FDI) into India over the past 25 years. Cumulative investments from the Republic total nearly US$175 billion, making up about 24 per cent of India's total FDI inflows, based on data from the High Commission of India in Singapore. India's expanding consumer market is another promising area, said HSBC India CEO Hitendra Dave. 'Every day in India, there is somebody switching on an air conditioner for the first time, somebody is flying for the first time, (and) somebody is eating cheese for the first time,' said Dave. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up India's capital markets – 'possibly one of the most active and dynamic capital markets right now' – are another major draw, he added. In 2024, the country saw 338 initial public offerings (IPOs), the most globally for the second straight year. That marked a 44 per cent increase from 2023, with IPO proceeds almost tripling to US$21 billion. This has driven a 'reverse flip' trend, where Indian firms incorporated overseas relocate their headquarters back to India in order to list locally, Dave said. Indian regulations prohibit foreign-incorporated entities from listing on domestic exchanges. 'As long as the valuation differences are what they are, then any sensible person would want to do the 'reverse flip'… and make (themselves) eligible to list on Indian stock exchanges,' said Dave. 'It's one of the most exciting things that is happening in India right now.' Navigating complexities One of HSBC's recent priorities has been helping clients navigate the evolving trade landscape, including US tariffs imposed under the Trump administration. 'We've been through different tariff scenarios before,' said Wong. 'Our focus has always been just (to) focus on a client and helping our clients understand – as these things shift – what are the challenges, but at the same time, what are the opportunities that can come along?' While US tariffs have largely targeted physical goods, Wong noted that services form a 'huge portion' of international trade. 'I think that there's also that other side of the equation that sometimes is not really looked into,' he added. Both executives also pointed to HSBC's broader advisory role – particularly in helping clients understand India-specific rules, such as foreign exchange controls. 'People who bank with us, bank with us because they need us in one country and (also) in another country,' said Dave. 'If it's a pure-play local market, there are alternatives available.' For instance, foreign exchange restrictions in India can come as a surprise. 'People in Singapore don't understand foreign exchange controls, because there are no controls (here),' he added. The lender – which employs more than 5,000 trade experts globally – also helps clients identify suitable joint venture partners, determine the best locations to set up operations, and locate the talent they need. Said Dave: 'The main thing is, we have to help people to soft-land, in the context of Singapore (and) India, India and Singapore.'
Yahoo
23-06-2025
- Business
- Yahoo
HSBC names new head of wealth and premier solutions in Singapore
HSBC has announced the appointment of Ishan Sarkar as the new head of wealth and premier solutions (WPS) for Singapore. Sarkar will assume his role on 1 July 2025, reporting to Ashmita Acharya, head of international wealth and premier banking, HSBC Singapore, and Stefan Lecher, head of wealth and premier solutions in Asia. Sarkar began working with HSBC six years ago, most recently overseeing capital markets for HSBC Global Private Banking and Wealth in Southeast Asia. He has 20 years of expertise in investment and sales positions at several top-tier global financial firms. In his new position as head of WPS, Singapore, Sarkar will spearhead a 'differentiated' wealth strategy for the region. This involves creating and overseeing a broad range of wealth products, platforms, and client experiences tailored to all customer segments, from premier to ultra-high net worth. Acharya said: 'We aspire to be Singapore's leading international wealth bank, providing differentiated solutions for our globally mobile clients' wealth preservation and growth needs. 'I am confident that Ishan's expertise and leadership will bring the best of our diverse wealth solutions to clients across segments to help them reach their ambitions.' Lecher added: 'The demand for world-class, innovative wealth management solutions and timely market insights is growing stronger than ever in Singapore. 'In his new role, Ishan will steer the team in Singapore to leverage our global network and deliver our investment and advisory solutions at pace for our clients to manage, grow and preserve their wealth for generations to come.' Earlier in June, HSBC Asset Management launched the HSBC PLUS Active ETF range, entering the active ETF market with five new funds. The company stated that this launch seeks to offer investors exposure to specific countries and regions, blending the advantages of ETFs with the potential for superior returns. These funds are available to retail, wholesale, and institutional investors in eight European markets, including Austria, Germany, and the UK. They will be listed on the London Stock Exchange, Borsa Italiana, and Xetra. "HSBC names new head of wealth and premier solutions in Singapore " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
25-05-2025
- Business
- Business Times
Badminton player Loh Kean Yew a ‘role model' for children at HSBC event
[SINGAPORE] A smash and sharp drop were some of the moves made at the Singapore Badminton Hall East Coast @ Expo on Saturday (May 24). It may have seemed like any other day on the court, except that the person demonstrating the techniques was none other than former men's singles world champion Loh Kean Yew. Loh was coaching some 30 primary school children from low-income families at the badminton coaching clinic, which was hosted by HSBC. Wong Kee Joo, chief executive of HSBC Singapore, said: 'This badminton clinic is a way for us to engage the community, and ensure that the community also gets to participate in sports – versus just being a spectator. (With) regard to the children, hopefully we can also inspire them.' In addition to participating in the clinic, the children received a pair of tickets to the KFF Singapore Badminton Open 2025, which will start on Tuesday and run until Jun 1. Loh will be competing in the tournament. Wong added that Loh is a 'great role model' for the children. 'The kids can look up to him and hopefully learn the same grit, determination and perseverance.' A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up HSBC has supported a variety of sporting events – and particularly youth sports development in – not just badminton, but also rugby, golf and tennis. 'I think sports is an activity that is very transformational. Because when it comes to sports, it gives you the ability to understand teamwork and collaboration, (as well as) focus, resilience and determination,' Wong said, adding that these are important values to teach the younger generation. Loh noted: 'My journey in the sport began at a young age, and I understand how transformative these early experiences can be.' ' Sports is an activity that is very transformational... It gives you the ability to understand teamwork and collaboration, (as well as) focus, resilience and determination. ' — HSBC Singapore Wong Kee Joo chief executive In addition, the bank hosts the long-running HSBC Youth Golf Challenge in partnership with the Singapore Golf Association. In March, HSBC partnered social service agency Trybe for an event where professional female golfers shared their experiences with young people facing adversities. Engaging the community In April, HSBC held its first rugby coaching clinic for beneficiaries from the same organisation. Wong highlighted that the bank's employees are also involved in engaging the community through sports. 'Just last year, employees from across the bank came together to form a sports community that seeks to not only serve as a platform for employees to connect and stay active through sports, but also work and engage with various sporting associations and organisations in Singapore to explore ways to give back to the community,' he said. The CEO added that the bank will continue to 'create opportunities' for the communities in which it operates. The attendees of the event are beneficiaries of The Straits Times School Pocket Money Fund, which aims to support children from low-income families.
Business Times
25-05-2025
- Business
- Business Times
Badminton player Loh Kean Yew a ‘role model' for children at HSCB event
[SINGAPORE] A smash and sharp drop were some of the moves made at the Singapore Badminton Hall East Coast @ Expo on Saturday (May 24). It may have seemed like any other day on the court, except that the person demonstrating the techniques was none other than former men's singles world champion Loh Kean Yew. Loh was coaching some 30 primary school children from low-income families at the badminton coaching clinic, which was hosted by HSBC. Wong Kee Joo, chief executive of HSBC Singapore, said: 'This badminton clinic is a way for us to engage the community, and ensure that the community also gets to participate in sports – versus just being a spectator. (With) regard to the children, hopefully we can also inspire them.' In addition to participating in the clinic, the children received a pair of tickets to the KFF Singapore Badminton Open 2025, which will start on Tuesday and run until Jun 1. Loh will be competing in the tournament. Wong added that Loh is a 'great role model' for the children. 'The kids can look up to him and hopefully learn the same grit, determination and perseverance.' A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up HSBC has supported a variety of sporting events – and particularly youth sports development in – not just badminton, but also rugby, golf and tennis. 'I think sports is an activity that is very transformational. Because when it comes to sports, it gives you the ability to understand teamwork and collaboration, (as well as) focus, resilience and determination,' Wong said, adding that these are important values to teach the younger generation. Loh noted: 'My journey in the sport began at a young age, and I understand how transformative these early experiences can be.' ' Sports is an activity that is very transformational... It gives you the ability to understand teamwork and collaboration, (as well as) focus, resilience and determination. ' — HSBC Singapore Wong Kee Joo chief executive In addition, the bank hosts the long-running HSBC Youth Golf Challenge in partnership with the Singapore Golf Association. In March, HSBC partnered social service agency Trybe for an event where professional female golfers shared their experiences with young people facing adversities. Engaging the community In April, HSBC held its first rugby coaching clinic for beneficiaries from the same organisation. Wong highlighted that the bank's employees are also involved in engaging the community through sports. 'Just last year, employees from across the bank came together to form a sports community that seeks to not only serve as a platform for employees to connect and stay active through sports, but also work and engage with various sporting associations and organisations in Singapore to explore ways to give back to the community,' he said. The CEO added that the bank will continue to 'create opportunities' for the communities in which it operates. The attendees of the event are beneficiaries of The Straits Times School Pocket Money Fund, which aims to support children from low-income families.
