Summary

HSBC will close its Raffles Place branch in Singapore on February 28th and open an upgraded wealth center in the same building. This move reflects HSBC’s strategy to focus on wealth management in Singapore, a key financial hub. The bank’s distribution footprint in Singapore will remain unchanged, with three other wealth centers already operating in the country.

https://www.straitstimes.com/business/banking/hsbc-to-close-raffles-place-branch-as-banks-pivot-to-wealth-management-deepens?ref=top-stories