Standard Chartered to hire 400 staff in Hong Kong to tap growing demand for wealth management service
- Lender plans to spend HK$200 million (US$26 million) over three years to transform its branches in the city
- Standard Chartered seeking to meet greater demand for wealth management services
The bank, one of three currency-issuing lenders in the city, plans to invest HK$200 million (US$26 million) over the next three years to reshape its 70 branches in the city, according to Lay Choo Ong, Standard Chartered’s head of consumer, private and business banking in Hong Kong. That is on top of about HK$1 billion the lender has already spent on expanding its digital capabilities in Hong Kong.
“We believe that the future is not about digital-only, is not about branch-only, but really about digital with a human touch,” Ong said. “We certainly do not think it’s about reducing the number of branches. It is much more about what you do with the space in the future.”
One example of how the lender is reshaping its network is its Priority Private Centre, which opened in January at K11 Atelier Victoria Dockside in Tsim Sha Tsui and serves clients with HK$8 million or more in assets under management. The more than 8,800-square foot space overlooks Victoria Harbour and features treats from Artisan Lounge, as well as private meeting rooms to discuss wealth management needs.