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September 29, 2023

HSBC unveils expanded wealth investment offerings

The bank, led by Bankero Sandeep Uppal, expanded its asset management arm.

HSBC declared its new wealth investment offerings through the new HSBC Investment and Insurance Brokerage, Philippines Inc. (HIIB), which aims to capitalize on the growing wealth in the country, characterized by growing bank deposits and security investments.

HSBC Philippines President, Bankero Sandeep Uppal referred to the new venture as a milestone, signifying the bank’s confidence in the country, thereby backing HSBC’s motivation to be the leading global wealth manager in the region. HSBC Wealth offers various investment products which include Unit Investment Trust Funds, among others.

HSBC has announced the expansion of its investment management arm, solidifying its footprint as the leading walt manager in Asia.


BSP disqualifies unregistered money service business

The Bangko Sentral ng Pilipinas (BSP) has disqualified Riyben Foreign Exchange for operating an unregistered money service business, part of BSP’s ongoing efforts to curb unauthorized MSBs, following similar actions taken against six other firms earlier this year.

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