(From left) HSBC Bank Malaysia chief executive officer Datuk Omar Siddiq, Johor investment, trade, consumer affairs and human resources committee chairman Lee Ting Han and HSBC Bank Malaysia international wealth and premier banking country head Linda Yip at the opening of HSBC Wealth Centre in Johor Baru. — THOMAS YONG/The Star
HSBC Malaysia today announced the opening of its new Wealth Centre in Johor Baru, reinforcing the bank’s commitment to expand its wealth and affluent banking capabilities across the country.
The new centre is designed to cater to the state’s growing affluent population.
This milestone underscores HSBC’s strategic ambition to accelerate growth in affluent and high net worth segments while deepening its presence in key cross-border growth corridors.
Johor serves as an ideal location for HSBC’s wealth centre, given its proximity to the international financial centre of Singapore and further propelled by investments pouring in from the Johor-Singapore Special Economic Zone (JS-SEZ).
The state’s diversification beyond manufacturing into data centres, digital infrastructure and advanced manufacturing has also contributed to its growing wealth trajectory.
Located at HSBC’s Jalan Bukit Timbalan branch, the new wealth centre is designed to cater to the evolving needs of the bank’s Premier Elite clients.
The exclusive, appointment-only centre provides bespoke in-person wealth management solutions tailored to wealth accumulation, protection and legacy planning.
The opening of the wealth centre was officiated by Johor investment, trade, consumer affairs and human resources committee chairman Lee Ting Han. It was witnessed by HSBC Bank Malaysia chief executive officer Datuk Omar Siddiq, and international wealth and premier banking country head Linda Yip.
Lee, Omar and Yip walking down memory lane at the HSBC Johor Baru Wealth Centre after its opening at the Jalan Bukit Timbalan HSBC branch. It is also HSBC’s first branch in Johor that was established in 1960.
During his keynote address, Lee said the positive spillover effect from the rapid growth in Johor’s economy is to be channelled towards the prosperity of its people, via the creation of new job opportunities and an increase in household income.
“The pursuit of higher growth, coupled with a stronger ringgit are elevating living standards, bringing the achievement of higher-income status closer to fruition,’’ he said.
Lee added that the financial sector plays a pivotal role in this trajectory, while international connectivity is key to spurring further investment growth.
“Today, I am glad to see international banks such as HSBC expanding their presence in Johor,’’ he said.
The opening of HSBC’s new wealth centre in Johor Baru marks an important milestone for the bank, underscoring its long term-commitment to expanding its wealth management franchise across Malaysia, said Yip.
“The investment reflects our confidence in the growth potential of Johor and the increasing need for sophisticated wealth solutions among our growing Premier Elite clients.”
Yip said Johor emerged as the fastest growing state in the country in 2024, with a growth of 6.4% surpassing the national growth rate of 5.1%.
This positive momentum, she added, is expected to continue with investments flowing into the JS-SEZ.
Yip added more entrepreneurs, professionals and business owners are building families, businesses and financial portfolios in Johor.
“This growth has created a vibrant wealth diaspora, making Johor an increasingly important hub for investments and wealth preservation,’’ she said.
HSBC first set roots in Johor in 1960 with the Bukit Timbalan branch. Today, its expanding presence signals Johor’s broadening wealth profile while reinforcing Malaysia’s role as a growing hub for regional wealth, said Yip.
(From left) HSBC Bank Malaysia chief operating officer Mark Hall, Omar, Lee, Yip and HSBC Bank Malaysia international wealth and premier banking distribution head Daniel Lim posing for the cameras with HSBC's lions Stephen (left) and Stitt (right). The lions are an icon across HSBC’s branches across the globe as they stand guarding the bank’s offices.
This year has been a pivotal year for HSBC in the affluent banking and wealth management space.
In August, it launched the all-new HSBC Premier, with a focus on four pillars: wealth, health, travel and international, to meet the evolving demands of the affluent and high net worth segment in Malaysia.
“For the wealth pillar, we wanted to bring the best in wealth offerings to our customers, from personalised and curated portfolios to a comprehensive suite of exclusive wealth, protection and legacy planning solutions.
“Our wealth centres are designed to provide an exclusive environment where our Premier Elite customers can engage with senior relationship managers and wealth specialists and gain valuable regional and global market insights,’’ said Yip.
She said with Malaysia’s fast expanding affluent segment, the demand for bespoke wealth products and solutions is here to stay and the bank looks forward to being a trusted partner to its customers.
Earlier this year, HSBC opened its flagship wealth centre at the Tun Razak Exchange financial centre in Kuala Lumpur.
