HSBC Private Banking has announced a new partnership with AllBright, a global entrepreneurial community for female business-owners.
The bank will be actively participating in the 2019 AllBright Pitch Day series, which consists of monthly events providing women with a platform to seek investment from business leaders and high-net-worth individuals. HSBC will be providing participants to offer specialist financial and investment advice.
The partnership demonstrates HSBC Private Banking’s commitment to fostering more diversity within their organisation, as well as supporting entrepreneurs and family offices across the world, a statement from the bank has said, adding that some 42% of female entrepreneurs say funding is one of the major obstacles they contend with when starting a business.
AllBright, founded in 2016, is a networking group aimed at female business-owners and aspiring entrepreneurs, which provides work space for both professional and social engagement, and organises online courses to give women the skills and knowledge required to succeed in business.
António Simões, CEO of HSBC Private Banking, has said, “We know how important it is to have access both to capital and expertise. We are proud to be partnering AllBright, to help offer some of the most talented female entrepreneurs the resources they need to grow their businesses.”
AllBright’s founder Debbie Wosskow commented, “We are delighted to be partnering HSBC Private Banking. They bring a wealth of business knowledge, global connection and decades of experience to AllBright’s Pitch Days – helping to achieve our joint ambition of supporting female entrepreneurs.”
The programme invites applications from female founded early-stage start-ups from all industry sectors and advises that successful applicants are likely to have secured a minimum of £150,000 in investment or revenue to date.
AllBright Pitch Day events are hosted at The AllBright in London, the next one taking place on Tuesday 29th January.
UK has most female HNWs in Europe
A recent report by GlobalData showed that the UK has Europe’s largest female HNW population. In 2017, there were roughly 50,000 female HNWIs in the UK, 15% of the country’s total.
Realising this, many private banks and wealth managers in the UK have launched incentives aimed at wealthy women. In November last year Raymond James launched the Women Wealth Manager Network (WWMN) in the UK, following a mission to align with its diversity and equality policy.