HSBC to hire 100 AI specialists, 100 wealth managers in Singapore

HSBC is set to hire more than 100 artificial intelligence (AI) specialists and another 100 wealth managers in Singapore as the banking group expands its Asian operations and invests in AI-driven transformation.

The bank said it will establish a new AI centre in Singapore in the second half of 2026, with hiring focused on areas including natural language processing, data science, AI governance and human-centred design.

The new centre will initially focus on using AI to personalise customer conversations in wealth management, develop agentic treasury solutions and expand AI-enabled digital payments, HSBC said in a statement.

The hiring push comes as HSBC increases its focus on higher-fee businesses and accelerates the adoption of AI across its operations. The bank’s wealth management expansion will include the addition of more than 100 relationship managers in Singapore, a company spokesperson said.

HSBC CEO Georges Elhedery said in May that AI would both create and eliminate jobs across the financial industry, with the bank retraining employees to adapt to changing workforce requirements.

The Singapore hiring plans highlight the growing demand for specialised AI talent in financial services as banks invest in technology while reshaping their workforce.

Rival Standard Chartered announced in May that its AI transformation programme would result in around 8,000 internal job cuts, underscoring the differing workforce implications of AI adoption across the banking sector.

HSBC’s latest expansion also follows its decision last week to sell its life and health insurance business in Singapore to Allianz for S$2.7 billion ($2.1 billion). The transaction forms part of the bank’s broader strategy to streamline non-core operations and strengthen its focus on wealth and wholesale banking across Asia.

The Singapore AI centre will therefore form part of HSBC’s wider push to strengthen its position in two areas, technology-led financial services and wealth management, that are central to its growth strategy in the region.