HSBC is expanding its Singapore operations with a new global AI hub and a larger wealth management team.
According to The Business Times, the bank will recruit more than 100 AI specialists and add 100 wealth relationship managers over the next two years.
The AI hires will form the core team at HSBC’s first global AI centre of excellence, which is due to open in Singapore later in 2026.
The centre will develop technology for the bank’s wealth management and global payments operations. Projects will include digital wealth journeys, AI portfolio tools, treasury applications and agent-led e-commerce payments.
The Singapore team will work with HSBC chief AI officer David Rice and relevant business units.
Technology developed by the centre may later be deployed in other HSBC markets.
Recruitment will span natural language processing, data science, AI governance and human-centred design. HSBC will also hire business specialists with practical AI expertise.
The bank plans to work with universities and government agencies in Singapore to train and recruit new talent.
HSBC has already tested agentic commerce in the city-state through a pilot with Mastercard.
The trial linked a multinational buyer, procurement platform SourceSage and e-commerce supplier FortyTwo through HSBC’s payments infrastructure.
Wealth Hiring Targets Affluent Clients
The 100 relationship managers will join HSBC Premier and private banking in Singapore, serving affluent and ultra-high-net-worth customers.
HSBC will also continue developing its wealth staff through its Wealth Academy, which offers training created with London Business School.
HSBC Singapore CEO Wong Kee Joo positioned the investment as part of the bank’s effort to build capabilities in Singapore for local and international use.
Featured image: Edited by Fintech News Singapore, based on image by HSBC
