The launch in the Asian market comes from the bank's restructured wealth and personal banking division, created by HSBC as part of an operational overhaul.

As HSBC adjusts to its new private banking and wealth management structure, the Asian side of the group has launched an upgraded portfolio service.

The Hong Kong/London-based bank has rolled out its enhanced “Wealth Portfolio Intelligence Service”. It uses the same kind of tools to analyse risk exposure, and across a wider range of assets, that are currently used by institutional clients.

Market falls since January – down by about 20 per cent on average worldwide – have sharply focused clients’ minds on risks. According to an HSBC survey, 75 per cent of customers with liquid assets of HK$1 million (around $129,000) or above are pessimistic about the Hong Kong stock market this year. 

Powered by Aladdin Wealth technology, WPIS was launched last year, but only covered unit trusts. With the new version, HSBC advisors can bring out risk analysis reports across an entire portfolio.

The bank said that since last year, more than 20,000 reports have been generated for clients of HSBC’s “Jade” service for affluent and HNW clients.

“In a highly volatile investment market, knowledge is power. By expanding the analysis to cover most of the key liquid asset classes in our customers’ wealth portfolios, we are enabling greater understanding and control of their risk exposure,” Greg Hingston, regional head of wealth and personal banking, Asia-Pacific, and head of wealth and personal banking, Hong Kong, HSBC, said.

The banking group has been busy in recent weeks. Hingston’s appointment to his post was announced in mid-March. HSBC merged its retail banking, wealth management and global private banking arms to form a $1.4 trillion business called wealth and personal banking. This segment covers private wealth from retail clients to ultra-high net worth individuals.

HSBC recently opened two new Jade Centres in Festival Walk at Kowloon Tong and Ocean Centre at Tsim Sha Tsui. Clients can connect remotely via a video conference service to discuss their portfolios and investment plans. 

After issuing its 2019 results in February, HSBC set out its new organisation aims, part of moves to boost overall profitability. Almost half of the assets in the new WPB group are from Asia: the Hong Kong/London-listed bank has, like some peers, pivoted towards the region in recent years. Across Asia, where wealth pools are growing faster than in any other region, HSBC’s wealth revenues grew by 12 per cent in 2019 (year-on-year) to $5.7 billion. HSBC said recruitment for wealth teams across Hong Kong, Singapore and mainland China is “on track”. Since 2017, both businesses have recruited 800 people, including private bank relationship managers, investment counsellors, UHNW solution specialists and product specialists, and Jade directors and relationship managers, investment and insurance specialists.