# HSBC Private Bank

HSBC Private Bank is a Bank / Wealth / Trust based in Mumbai, India.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Mumbai, India
- **Region:** Asia
- **Address:** Mumbai, India
- **Founded:** 1999
- **Assets under management:** Undisclosed
- **Website:** hsbcprivatebank.com
- **LinkedIn:** https://www.linkedin.com/company/hsbc-private-bank
- **Wikidata:** Q1565913

## Regulatory record

- **Reports private funds:** No

## About

HSBC Private Bank launched in 1999 as the wealth-management arm of HSBC Group, headquartered now in Mumbai with key booking centers in London, Hong Kong, Singapore, and Geneva. Its client base leans heavily toward entrepreneurial wealth in Asia and the Middle East, where HSBC's trade-banking roots created lasting relationships with business founders. The firm operates as a private bank, not a single-family office — it manages third-party wealth for ultra-high-net-worth individuals and families, typically those with investable assets above $30 million. Annabel Spring's platform allocates across private equity, private credit, real estate, infrastructure, and hedge funds through a fund-of-funds and direct co-investment model. The bank's partnership with HSBC Alternative Investments Limited (HAIL) is structural: HAIL sources and underwrites managers, while the private bank distributes to clients. Public record confirms notable commitments to secondaries funds and Asian real-asset vehicles — for example, HAIL has historically placed capital into Lexington Partners and Blackstone-managed vehicles on behalf of private-bank clients. Direct co-investment deals are smaller and typically reserved for the ultra-high-net-worth segment with minimum ticket sizes of $1 million to $3 million. Global Private Banking at HSBC serves roughly 340,000 clients worldwide, though this number spans affluent, high-net-worth, and ultra-high-net-worth tiers. Spring's group maintains a meaningful presence in Asia, where it competes with UBS, Credit Suisse (now UBS), and DBS Private Bank. Adjacent vehicles include HSBC's trustee and philanthropy-advisory services, which sit separately from the investment business. In May 2024: HSBC completed the sale of its Argentine banking operations to Galicia, narrowing its private-bank footprint to core Asian, European, and Middle Eastern markets as part of a broader refocus under new group CEO Georges Elhedery (per the firm, May 2024). The bank's structural differentiator is its dual-access pipeline: clients invest through the HAIL-alternatives engine while retaining the option to pledge assets for Lombard lending — a function that standalone wealth managers like Rockefeller Capital Management cannot replicate at scale. This balance-sheet capability, inherited from HSBC Group, gives Spring's team a sourcing and retention advantage in rate-sensitive markets like Hong Kong and Singapore.

## Sectors

- Private Credit
- Real Estate
- Hedge Funds
- Secondaries & Special Situations
- Infrastructure
- Private Equity

## Offices

- London, United Kingdom
- Hong Kong
- Singapore
- Geneva, Switzerland
- New York, United States

## People

- Annabel Spring — CEO, Global Private Banking & Wealth
- Lok Yim — Regional Head of Global Private Banking, Asia Pacific

## Questions

### Who runs investment decisions at HSBC Private Bank?

Global CEO Annabel Spring sets the overall strategic direction, but discretionary investment decisions for alternative assets sit with HSBC Alternative Investments Limited (HAIL), a separate group entity that sources, underwrites, and manages fund commitments. Advisors within the private bank present HAIL-vetted opportunities to clients, who retain final decision authority over discretionary portfolios. This creates a two-layer governance structure that separates manager selection from client advice.

### How is HSBC Private Bank related to HSBC Alternative Investments Limited?

HAIL is a wholly-owned subsidiary of HSBC Group, operating as the alternatives sourcing and fund-management arm for the private banking division. HAIL underwrites managers, builds fund-of-funds portfolios, and handles due diligence. The private bank's advisors then offer those HAIL-managed or HAIL-vetted vehicles to clients as part of a broader wealth-management relationship.

## Related profiles

- [HSBC Life (International)](https://altss.com/profile/hsbc-life-international)
- [HSBC Securities (Canada)](https://altss.com/profile/hsbc-securities-canada)

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Last updated: 2026-06-03T20:00:00.000Z

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