AdvertisementAdvertisementBusinessThe company signage of Hongkong Shanghai Banking Corporation (HSBC) is seen on a building facade at Marina Bay in Singapore on Mar 18, 2024. (File photo: AFP/Roslan Rahman)28 Jul 2026 05:00PM (Updated: 28 Jul 2026 05:08PM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST HONG KONG: HSBC will hire more than 100 artificial intelligence specialists and 100 wealth managers in Singapore, deepening investment in two areas central to the bank's Asian growth strategy as it expands higher-fee businesses and accelerates AI adoption.The announcement comes as HSBC moves to launch a new AI centre in Singapore in the second half of 2026, the bank said in a statement on Monday (Apr 27).The banking group's Chief Executive Georges Elhedery said in May that AI would destroy and create certain jobs in the financial industry, and that the bank was retraining its workforce to meet the challenge.HSBC said it would recruit talent across natural language processing, data science, AI governance and human-centred design. The centre will initially focus on personalising customer wealth management conversations, introducing agentic treasury solutions, and expanding AI-enabled digital payments.Rival Standard Chartered announced in May that its AI transformation would eliminate about 8,000 jobs internally.HSBC is also looking to boost its local wealth management operation by adding another 100 relationship managers, a company spokesperson said.The bank last week agreed to sell its life and health insurance business in Singapore to Allianz for S$2.7 billion (US$2.1 billion), as it trims non-core operations and focuses on its Asian wealth and wholesale banking businesses.‘Career bridges’, raising wages of AI-resilient work: Economic Strategy Review proposes ways to create good jobsSingapore workers likely to feel AI disruption sooner than most: ESR committee on human capitalSource: Reuters/rlNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST