HSBC plans to hire more than 100 AI specialists and another 100 wealth managers in Singapore as it accelerates AI adoption and expands its higher-fee wealth management business in Asia.
The bank said on Monday that the hiring drive comes alongside plans to launch a new AI Centre in Singapore in the second half of 2026.
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HSBC Chief Executive Georges Elhedery said in May that artificial intelligence would create some jobs while making others redundant across the banking sector, adding that the lender was retraining employees to adapt to the changing technology landscape.
The new AI Centre will recruit specialists in natural language processing, data science, AI governance and human-centred design. Initially, it will focus on personalising wealth management conversations, developing agentic AI solutions for treasury services and expanding AI-enabled digital payments.
The hiring push comes even as rival Standard Chartered said earlier this year that its AI transformation would eliminate around 8,000 internal roles. Elhedery has maintained that HSBC will continue retraining employees as AI reshapes banking jobs.
According to a company spokesperson, HSBC is also expanding its wealth management business in Singapore by hiring an additional 100 relationship managers.
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The announcement comes days after HSBC agreed to sell its life and health insurance business in Singapore to Allianz for S$2.7 billion ($2.1 billion), as the bank continues to streamline non-core operations and sharpen its focus on wealth management and wholesale banking in Asia.
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