HSBC Singapore Opens New Head Office at Marina Bay Financial Centre
(15 November 2022 – Singapore) HSBC Singapore has officially opened its new headquarters in Singapore, situated at Marina Bay Financial Centre Tower 2 (MBFC).
The bank has ambitious plans to ramp up international corporate and wealth banking as it expands its Asia footprint outside its regional hub in Hong Kong.
The bank also revealed that it had moved its Southeast Asia markets team for rates and currencies and its book to Singapore. The firm has earmarked US$6 billion for investments over five years from 2021, half of which is going to South and Southeast Asia. Its major businesses in Asia are in Hong Kong, with 28,000 headcount, and mainland China with 35,000 employees, according to the bank’s 2021 annual report.
“Singapore is one of the pillars of HSBC’s growth strategy in Asia, and the move to Marina Bay Financial Centre reflects our ambitions for our business. My colleagues in HSBC Singapore are key to delivering these ambitions, so we will leverage Singapore’s strengths as a regional hub for wealth, treasury management, innovation and sustainability to build their future skills and to serve our customers’ present and future needs” said HSBC CEO Noel Quinn.