Showtime for HSBC’s wealth strategy as it unveils NYC office

investmentnews.com:

HSBC is taking its ultra-high-net-worth ambitions to a new level as it plants a flag in the Big Apple.

The financial services giant has unveiled its new flagship wealth center at The Spiral in the Hudson Yards district of New York City, marking a significant expansion in its wealth management capabilities within the US.

This opening is part of the bank’s strategy to enhance services for high-net-worth and ultra-high-net-worth individuals, particularly those with international connections.

The center, located at 66 Hudson Boulevard East, is strategically positioned near HSBC’s US headquarters, consolidating wealth management and everyday banking services in one area.

“As one of the largest wealth management and financial services organizations in the world, it is our goal to be the preferred international financial partner for our clients,” Michael Roberts, CEO of HSBC for the US and Americas, said in a statement.

“Our wealth centers play a critical role in that strategy by offering crucial connection points to our global network for our clients,” Roberts added, underscoring the center’s role in aiding clients to achieve and exceed their financial aspirations.

Racquel Oden, head of Wealth and Personal Banking in the US for HSBC, also highlighted the comprehensive nature of the services provided.

“We are focused on fulfilling a variety of wealth management and banking needs for globally connected, affluent and private banking clients,” Oden stated.

Oden, who at one point established herself as a stellar member of Merrill Lynch’s leadership, was tapped to lead HSBC’s wealth and personal banking division last September.

She described the Hudson Yards location as a “one-stop shop for banking solutions,” which will greatly