HSBC has launched HSBC Privé – its first premium credit card designed with privileges exclusively curated for private banking clients.
The launch in Hong Kong this week inaugurated the first phase of a global programme to offer elevated travel, exclusive access and lifestyle experiences to its clients. Following its debut in Hong Kong, the banking giant said its new invitation-only card will also be launched in Singapore, India and more markets globally.
Launched in partnership with Mastercard, HSBC Privé’s privileges have been curated for its ultra high net worth and high net worth clients, “who are entrepreneurial, international and keen to expand their networks to discover new opportunities globally”.
“Our clients choose us not only because of our deep understanding of their wealth management needs, but also our capabilities to provide them with bespoke services beyond private banking,” said Lok Yim, regional head of global private banking, Asia Pacific, HSBC.
“With their aspirations and lifestyle needs in mind, we are excited to welcome our clients to discover the unparalleled experiences and opportunities that HSBC Privé has to offer.”
The global banking group stated that credit card spending by ultra high net worth and high net worth Mastercard cardholders in the Asia Pacific region “nearly doubled” between 2022 and 2023. Recognising these spending trends, the bank said it built HSBC Privé upon “deep client insights” to cater to their needs.
Driven by a client-centric approach, HSBC Global Private Banking conducted in-depth studies in early 2024 to review recent market developments and future client need and created benefits including exclusive access to private clubs, members-only lounges and workspaces at more than 150 locations across Asia, Australia, Europe and the US; elevated travel with first or business class tickets, travel insurance, access to premium airport lounges, transfers, hotel stays and upgrades; and lifestyle benefits such as complimentary tasting menus at Michelin restaurants and hospitality groups, among other benefits.
“HSBC Privé is crafted for individuals for whom international is a way of life. They are ambitious yet intentional in how they expand their network and sphere of influence,” commented Ari Sarker, president, APAC, Mastercard.
“In recognition of these needs, Mastercard is proud to elevate extraordinary experiences everywhere for HSBC’s Global Private Banking clients as they explore the world on their terms and make the connections that matter.”
