HSBC is planning to penetrate medium and high networth individual segment in eastern region in order to give big push to its wealth management and personal investment advisory service. The major portion of this business is coming from West and North India. | |
| The national sales head of wealth management of HSBC, Sandhya Kaul informed that the bank is now eyeing all the customers who has atleast an average savings per month of Rs 5,000. |
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| "Anybody who has a minimum savings of Rs 5,000 could approach us," she said. According to her, HSBC is now want to spread the message of this service among the chambers and corporate houses. |
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| She was in Kolkata to attend a seminar on personal wealth management, organised jointly by HSBC and Bengal Chamber of Commerce. HSBC national head informed that the bank has offered free personal wealth management service to all the members of the chamber. |
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| B Basu, the vice-chairman of of finance and banking sub committee BCCI B Basu informed that the chamber is seriously thinking to start this service with HSBC for its members. The chamber presently have 230 members. |
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| According to Kaul, the growth of personal wealth management service is phenomenal. HSBC started the personalised service around one year back. Now the asset under service in this is Rs 3,000 crore. "Still it is not more than 3-4 per cent of our customer base of one million," she said. |
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| Kaul feels that there is a tremendous growth potential in this as this is the best way to invest in a systematic manner. |
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| "This is nothing but a systematic investment plan with a particular objective. This is personalise service where we invest our customers money in such a way so that the customer could utilise that money after certain time period to achieve a goal," she added. |
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