---
title: "HSBC Bank opens its fourth wealth center locally | Lianhe Zaobao"
description: "HSBC has opened its fourth wealth center in Singapore, located on the 33rd floor of the New Paya Lebar Building, and has established its first sky lounge. This move demonstrates HSBC's continued inves"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/277223965.md"
published_at: "2026-02-27T15:52:17.000Z"
---

# HSBC Bank opens its fourth wealth center locally | Lianhe Zaobao

> HSBC has opened its fourth wealth center in Singapore, located on the 33rd floor of the New Paya Lebar Building, and has established its first sky lounge. This move demonstrates HSBC's continued investment in the Singapore market, aiming to meet the growing demand from affluent clients. Meanwhile, Citibank is also adjusting its strategy, planning to close its last branch in Jurong East in 2024, shifting towards wealth management business

HSBC has opened the largest wealth center in the local area after closing its Raffles Place branch.

On Friday (February 27), HSBC announced that the new wealth center is located on the 33rd floor of Singapore Land Tower and features the first sky lounge. This is HSBC's fourth wealth center in Singapore.

HSBC pointed out that the new center reflects the group's ongoing commitment to investing in Singapore and deepening its wealth business footprint to meet the growing demand of the local affluent customer base.

Citibank has also adopted a similar strategy, closing its last local branch in Jurong East in 2024, indicating that global banks are gradually shifting from traditional retail banking to wealth management.

Citibank once had 15 branches focused on banking transactions in Singapore, but after changing its strategy to focus on wealth management, it currently has three wealth management centers located in Orchard Road, Paya Lebar Square, and Holland Village. The Orchard Road wealth center, established in 2020, is the largest wealth center for the bank globally

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.