HSBC surprised at number of Lm50,000 plus clients in Malta

by Franco Aloisio

Martyn Porter, HSBC Malta's senior manager for private clients, has told The Malta Business Weekly that the bank was surprised at the number of individuals

who have liquid assets in excess of Lm50,000. Mr Porter will be heading HSBC's first Private Clients Office in Malta, which was officially opened last Tuesday. Located at the former Midlands office in Gzira, the office will provide a dedicated service to high net worth Maltese individuals with liquid assets exceeding Lm50,000.

Mr Porter said HSBC has carried out its market research on the banking needs of a certain type of customer, the private client, and has come up with a new type of service for such people.

HSBC Private Clients will benefit from a one-stop shop service approach including a comprehensive range of banking and investment services to meet investors' short-, medium- and long-term financial needs.

HSBC clients will have a named relationship manager based in the new office in Gzira. These private clients managers are highly trained professionals able to assist clients in making banking and investment decisions based on a thorough understanding of the customers' financial needs both onshore and offshore.

The office was inaugurated by HSBC chairman Albert Mizzi and chief executive officer Tom Robson.

Mr Porter said: "Our new office has been specifically designed to offer the very highest level of privacy and confidentiality to all of our clients." The office will work closely with branch managers to ensure that existing HSBC clients continue receiving optimum service for all of their financial requirements.

HSBC chief executive Tom Robson said: "HSBC is further expanding its personal banking service and has pioneered the term private banking with the opening of its first Private Clients Office in Malta through which it can offer high quality facilities to its clients.

"HSBC recognises that high net worth individuals value privacy and expect an excellent service. The hallmark of this service shall be confidentiality, security, discretion, continuity and professionalism."

Among the services offered are investment services, investment products (Malta and overseas), share dealing service, portfolio management, and special account and credit cards services.