Premier option

HSBC Holdings has taken another step in its drive to become a global banking group, with the launch of a new worldwide service aimed at its high-value personal customers.

These customers, served at present in Hong Kong by HSBC's Asset Vantage account, typically have a minimum of $500,000 in their accounts, but travel frequently or work internationally.

HSBC's branch and subsidiary network covers 82 countries and territories, but the new service - called HSBC Premier - will initially only be rolled out in 18 countries, including Hong Kong, the United States, Britain and Singapore.

HSBC Select branches, which at present serve Asset Vantage customers, will also see their branding change within three months from HSBC Select to HSBC Premier, a bank spokesman said.

There would be more than 50 dedicated HSBC Premier branches worldwide.

A Premier customer is promised a host of services including a priority 24-hour telephone service from anywhere in the world, free access to current account funds from any HSBC cash machine in the world, and travel services such as commission-free currency, travellers cheques and emergency travel recovery services.