HSBC will unveil its revamped Singapore flagship soon – and it will be the first in region to have the bank’s exclusive Jade service that’s open only to the rich

An artist’s impression of the HSBC Claymore branch’s Jade Centre entrance.
HSBC

British bank HSBC’s flagship at Claymore Road in Orchard will soon be reopened with a luxury facelift, and it will come with a new centre dedicated to serving the bank’s high-net-worth clients here.

The new Jade Centre is one of two announced for Singapore on Tuesday (Feb 26), with the other one planned for the upcoming Jewel Changi Airport.

The bank had previously said that its Jade service will provide personalised investment solutions and advisory services, and an “unparalleled global concierge service” to individuals who deposit at least S$1.2 million (US$890,000) in cash and/or investments.

The bank added that it was aiming to “play a critical role in supporting Singapore’s ambition to be the leading wealth and trade hub of the region”.

In a press release on Tuesday, HSBC revealed that the revamped Claymore branch will be focused on serving its Premier and International customers. Set to open on Mar 4, the Jade Centre at Claymore will be the bank’s first in the region. At the same time, the bank will be closing its Liat Towers branch on the same day.

The second Jade Centre, scheduled to open at Jewel Changi in the first half of this year, will be focused on international customers, the bank said.

Artist’s impression of Jewel at Changi
Jewel Changi Airport Devt.

According the bank, international and Jade customers together form almost half of its total affluent customer base in the city-state.

“Given these customers are typically frequent travellers who will leverage Changi Airport’s excellent international flight connectivity as a stopover destination, having a presence within the airport will make it easier for them to bank with HSBC,” the bank said.

In its release, HSBC also said it would be opening a new branch at Alexandra Retail Centre, which is located near R&D and technology hubs in Alexandra and One-north.

The latest changes, HSBC says, are part of its increased strategic investments aimed at growing market share in Singapore.