HSBC and IHH tie wealth banking to health as longevity demand rises

Clients risk spending later years with chronic disease, making healthspan the true measure of retirement readiness.

HSBC Singapore is linking wealth management with health and longevity access as affluent clients increasingly treat preventive care as part of financial planning, not a separate lifestyle expense.

The move comes after the bank recorded a 35% increase in customers making health-related transactions on HSBC credit cards over the past five years, signalling stronger demand for medical, wellness and longevity services.

Ashmita Acharya, Head of International Wealth and Premier Banking at HSBC Singapore, said longer lifespans are changing how affluent clients define financial security. Retirement and legacy planning remain important, but clients are also asking how their wealth can support healthier and longer lives.

“We're seeing a fundamental shift in how affluent clients think about wealth today,” Acharya said. “It's not just about living longer, it's about living well for longer.”

HSBC is offering health and wellness access through an integrated banking proposition covering priority access, preventive care and healthy longevity. The bank is working with healthcare providers including IHH Healthcare to serve clients in Singapore and the region.

Dr Peter Chow, CEO of IHH Singapore, said the demand reflects rising affluence and a shift in healthcare expectations. Clients are no longer focused only on treating illness, but on extending the years in which they can remain active and independent.

Chow said the gap between lifespan and healthspan remains a key issue. People may live longer but still spend later years affected by chronic disease, poor mobility or reduced quality of life.

The partnership also raises a strategic boundary for banks. Acharya said HSBC is not entering healthcare directly, but giving clients access to trusted providers as health decisions become more closely linked to wealth planning, family protection and long-term costs.

For HSBC, the opportunity is to make wealth management more relevant to how affluent clients live. The test is whether health access can deepen client relationships without making banking look like medical advice.