13 Sep, 2018
HSBC Singapore today announced that it will be relocating its head office to Marina Bay Financial Centre (MBFC) Tower 2, within the Central Business District, to accommodate the company’s rapid growth plans.
In announcing the move, HSBC Singapore’s CEO, Tony Cripps, says: “HSBC is committed to growing its presence in Singapore and the move to Marina Bay Financial Centre (MBFC) is a real statement about our intentions. The decision to move to MBFC was the logical next step in our growth strategy and will enable us to further service current and future clients.”
HSBC Singapore will have signage rights to the building. It will also be investing substantially in the new workplace to create an environment that is conducive to collaboration; encourages innovation and an entrepreneurial mindset; and trigger new ways of working for our employees.
“We are very pleased that HSBC will join us at Marina Bay Financial Centre (MBFC). As a key component of Singapore’s position as a leading global and innovative business hub, MBFC continues to attract world class companies to Asia’s best business address” says Ben Robinson, CEO, Raffles Quay Asset Management.
Mr Cripps continues: “HSBC in Singapore will undergo a number of workplace and cultural changes that will transform the way our employees communicate, engage and work with each other. The new space will not only reflect our company goals but also focus on delivering quality service to all our customers.”
In March this year, HSBC Singapore announced a new three-year strategic plan with a focus on eight strategic priorities and included a 10% increase in headcount over the period across all business lines1.
More recently at HSBC’s global strategy update in June, Singapore was one of only eight markets amongst HSBC’s 66 countries that was classified as a “scale market”2 into which Group investment will be channeled to support material growth.
Mr Cripps adds: “As a scale market, Singapore is key to HSBC’s global growth plan. Our new premises will ensure we can meet our people, technology and workplace requirements that will be needed to carry out this business expansion, and reflect our ambitions in the market.”
“This is an exciting time for HSBC Singapore and marks a huge milestone for the company, its employees and customers who will all benefit from the opportunities this expansion presents.”
HSBC Singapore will occupy approximately 140,000 sf over the top floors on the 50-storey building. Fit-out work is expected to commence in the second half of 2019, with target occupation by April 2020. MBFC has won many accolades for its achievements towards environmental sustainability under the BCA Green Mark Platinum awards, which is in line with HSBC’s own sustainability agenda.
1 Straits Times: “HSBC ramps up investment and hiring to grow market”
2 HSBC Strategy Update: Return to Growth and Value Creation “Investor Presentation, June 2018, slide 9”
Media enquiries to:
+65 6658 4799
Marina Bay Financial Centre
Iain Twine (Edelman)
+65 8128 9718
Notes to Editors
Pictures of MBFC are available upon request
About Marina Bay Financial Centre
Marina Bay Financial Centre (MBFC) was developed by a joint venture of three of Asia’s most experienced and trusted property developers – CK Asset Holdings Ltd, Hongkong Land and Keppel Land Ltd. It is currently jointly owned by Hongkong Land, Keppel REIT, Suntec REIT and DBS.
Occupying centre-stage of Singapore’s spectacular new downtown at Marina Bay, MBFC is a purpose-built financial centre designed to ensure Singapore’s place as a key financial hub of South-East Asia. MBFC sits on a prime waterfront 35,500 square metre site offering a breathtaking blend of three distinguished office towers with about 2.92 million square feet of Grade A office space, two residential towers comprising 649 luxury apartments and penthouse as well as approximately 180,000 square feet of retail space to meet the daily convenience of our business community and residents.
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group, which serves our customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. The Group serves customers worldwide from around 3,800 offices in 66 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,607bn at 30 June 2018, HSBC is one of the world ’s largest banking and financial services organisations.