HSBC UAE launches special bank account for millionaires

Pedro Gonçalves
clock
HSBC UAE launches special bank account for millionaires

HSBC UAE has launched Jade, a wealth management service that gives HNW clients privileged access to the world's most coveted experiences.

First launched in Asia in 2016, Jade is a bespoke bank account offering a combination of personalised relationship management, advanced wealth solutions and luxury lifestyle services to support the needs of HNWIs with investible assets of at least $1m.

"Research conducted by HSBC shows that high net worth individuals want to be enriched, not just financially but with distinctive and unusual ways to explore the world, expand minds, and achieve a sense of purpose - that's exactly what Jade is designed to deliver," said Abdulfattah Sharaf, group general manager at HSBC Bank Middle East.

Jade is a perfect fit for the UAE because this country is the destination of choice for ambitious individuals aspiring to achieve things in their lives"

HSBC's global study of around 1,000 people in eight countries, including the UAE, with between $1m and $5m of personal wealth found that UAE HNWIs were the youngest among the surveyed population with an average age of just 35 years, followed by China at 37 years, and significantly younger that the United Kingdom (51 years), United States (61 years) and Canada (56 years). Of the UAE respondents, 40% ran their own businesses, 30% held senior executive positions and 20% worked in professional services.

"Jade is a perfect fit for the UAE because this country is the destination of choice for ambitious individuals aspiring to achieve things in their lives, whether that's economic prosperity, satisfying entrepreneurial goals, or thriving in a multi-cultural environment," he added.

Backed by a team of experts, a dedicated relationship director helps Jade clients create their own wealth strategy by leveraging HSBC Portfolio Advisory service to build investment exposure across different asset classes and geographies.

Jade clients also have access to sophisticated investment solutions like high yield bonds, specialised sector mutual funds, alternative investments and investment finance solutions.

They will also get preferential banking rates, and all the benefits and privileges of HSBC Premier for their spouse and children. In addition, the HSBC Jade concierge service offers access to a range of bespoke luxury experiences from holistic jungle retreats and neuro-enhancement, to innovative crying therapy and immersive culinary experiences provided by a network of global and local partners.

 

Subscribe to International Investment's free, twice-daily, newsletter