HSBC is taking its ultra-high-net-worth ambitions to a new level as it plants a flag in the Big Apple.
The financial services giant has unveiled its new flagship wealth center at The Spiral in the Hudson Yards district of New York City, marking a significant expansion in its wealth management capabilities within the US.
This opening is part of the bank’s strategy to enhance services for high-net-worth and ultra-high-net-worth individuals, particularly those with international connections.
The center, located at 66 Hudson Boulevard East, is strategically positioned near HSBC’s US headquarters, consolidating wealth management and everyday banking services in one area.
“As one of the largest wealth management and financial services organizations in the world, it is our goal to be the preferred international financial partner for our clients," Michael Roberts, CEO of HSBC for the US and Americas, said in a statement.
“Our wealth centers play a critical role in that strategy by offering crucial connection points to our global network for our clients,” Roberts added, underscoring the center's role in aiding clients to achieve and exceed their financial aspirations.
Racquel Oden, head of Wealth and Personal Banking in the US for HSBC, also highlighted the comprehensive nature of the services provided.
“We are focused on fulfilling a variety of wealth management and banking needs for globally connected, affluent and private banking clients,” Oden stated.
Oden, who at one point established herself as a stellar member of Merrill Lynch’s leadership, was tapped to lead HSBC’s wealth and personal banking division last September.
She described the Hudson Yards location as a “one-stop shop for banking solutions," which will greatly benefit their clientele by providing centralized and confidential wealth management.
“The Hudson Yards flagship wealth center embodies our dedication to holistic wealth management, offering a centralized hub where our clients and their families can confidentially optimize their financial futures for generations to come,” Oden said.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.