From first venture to lasting legacy, HSBC works alongside Asia’s most accomplished families, providing the insight and support needed at every stage of their wealth journey
In Hong Kong’s family business circles, generational wealth holds a special resonance. It is not just the accumulation of assets but also the careful shaping of values, ambitions and traditions, stewarded across time and circumstance. For HSBC Private Bank, generational wealth transcends financial planning; it is about empowering families to create resilient legacies that flourish across borders and time.
“A family’s lasting treasure is more than wealth; it is its spirit and culture captured over time, supported by financial means,” says Kanas Chan, head of Private Bank, North Asia and Hong Kong at HSBC. “We guide entrepreneurial families to navigate complexities and make the right connections, preserving their legacy across geographies and generations.”
The transfer of generational wealth is accelerating across Asia-Pacific, with over US$5.8 trillion expected to be transferred between generations in the Asia-Pacific region by 2030. Yet many entrepreneurs remain unprepared to take concrete steps to ensure a smooth transition. According to the HSBC Global Entrepreneurial Wealth Report 2025, 74 per cent of entrepreneurs in Hong Kong aspire to keep their business within the family, while 71 per cent value giving the next generation the freedom to pursue their own ambitions outside of the family business. This reveals a delicate balance between preserving traditions and empowering younger generations to forge their own paths.
“A thoughtful blueprint—crafted to ensure assets and dreams flow smoothly to the next generation—keeps family ties strong,” says Ann Ling, regional head of wealth planning and advisory for Asia-Pacific at HSBC Private Bank. Such a blueprint is essential for families navigating complex legacies in an increasingly mobile, cross-border world. “When we help them in their planning, it also makes them think about how they wish to be remembered, transforming not only their future but their present.”
Kanas Chan and Ann Ling (Photo: Alexander Yeung/ Tatler Hong Kong)
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The report also highlights that many entrepreneurs across Asia are carefully considering the transition of their business to the next generation. “Fifty-three per cent are mindful that inheriting significant wealth could impact the values and work ethic of the next generation, while 47 per cent find it challenging to discuss which roles or responsibilities in the business are best suited for different family members,” says Christina Tung, head of trust and fiduciary services for North Asia at HSBC Private Bank. “This underscores the importance of thoughtful and strategic wealth planning to ensure a smooth and successful transition.”
With financial planning in the region evolving rapidly, the mission at HSBC is to help families pass down not just assets but also the drive to create opportunity amid any adversity. “Generational wealth is a family’s lasting treasure: values, spirits, culture captured over time and how wealth can help support it,” says Chan. “It is our promise to support these families with our deep experience, guiding them through growth as they expand their footprint from their home market to Asia and the world.”
HSBC Private Bank achieves this with bespoke wealth planning and advisory solutions, integrating wealth, education, governance, family office, philanthropy and trust services. This holistic approach ensures futures are safeguarded with precision and care, no matter where life takes entrepreneurial families.
“Our Wealth Planning & Advisory team starts with gentle, values-based conversations to align family goals,” Ling explains. This inclusivity helps turn fragile agreements into actionable plans and lasting legacies. “We host private family workshops to foster open dialogue early, turning anxiety into a shared vision.”
Global reach meets local expertise
Modern families are increasingly international: 59 per cent of respondents to HSBC’s Global Entrepreneurial Wealth Report identify as multi-residential and 62 per cent are considering new residences in Asia. With businesses, assets and family members spread across jurisdictions, HSBC’s global reach with deep local expertise in markets across Asia-Pacific and beyond, matters.
“As a one-stop global bank, HSBC Private Bank leverages HSBC’s extensive global network and expertise across Commercial Banking, and Corporate & Institutional Banking teams to help family enterprises expand internationally,” says Chan. With presence in over 30 markets across Asia, the Middle East, Europe and the United States, and 12 strategic booking centres, HSBC Private Bank creates personalised teams to meet the globetrotting needs of entrepreneurial families. “And, with US$260 billion of assets under administration globally and an 80-year track record, HSBC Trustees are well positioned to establish effective and structured succession plans for our entrepreneurial clients,” says Tung.
HSBC Private Bank’s guiding principle is “Make the right connection.” This goes beyond just technical advice, presenting entrepreneurs with knowledge, opportunities and tailored services to build lasting wealth. “Family-owned businesses drive over 70 per cent of global GDP and 60 per cent of global employment,” says Chan. “Our wealth planning and advisory team helps refine visions, supporting legacies that endure.”
