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Published on November 22, 2007

 It is perhaps a truism to state that most businessmen prefer opportunities to threats. But there are a few in the business world who believe each threat carries with it an opportunity. HSBC's head of personal finance services, Wichit Phayuhanaveechai, is one such businessman.

His bright-side attitude has helped him succeed in the tough competitive world of retail banking, particularly this year, which has seen each bank struggle to maintain its growth and market share amid dampened domestic demand and political uncertainty.

"Whenever there are difficulties, there are always opportunities," he says. "This is something I believe; it is a maxim of which I am constantly reminded."

His optimistic view has doubtless helped HSBC exceed its targets for various products this year, particularly credit cards and HSBC Premier, a product aimed at high-end consumers.

Wichit says that while many banks have slowed down their businesses under current economic conditions, HSBC has continued to drive its services to win a greater market share. As a result, it could recover some market ground previously lost.

"The current gloomy economy is a good opportunity for the bank's employees to learn, as well as offer products to customers automatically and vigorously. If it were not for tough times, they'd offer nothing," he says.

The bank's credit-card business has grown against industry trends in every dimension: number of customers, spending and receivers. And its HSBC Premier has so far exceeded its target in terms of number of customers and portfolios.

Wichit has another personal ideology: "May success come from not only concrete things or issues, but also the inner part of life."

He makes a point of being constantly happy in his work, and this, he says, brings about efficiency.

"We do everything by ourselves; no one forces us. If our work is based on happiness, we'll be able to do it more effectively and without stress. If we get stressed, people around us will also be stressed," he says.

Wichit does not keep his happiness to himself. He believes he sets it in concrete, as services to make his customers happy.

HSBC Premier, he says, provides convenience in the lives of a mass of affluent customers around the world, because HSBC realises that customers of high net worth regularly take business or holiday trips and are relentless in their financial transactions.

The service relies on HSBC's global strength, with 10,000 branches in 83 countries. It links personal banking needs to one network, in which each HSBC Premier customer can access services of the same standard throughout the world.

Wichit says research has found there are about 200 million affluent people in the world, with assets worth more than Bt3 million. Of these people, 165,000 live in Thailand.

"We're the only bank offering this kind of product, because of our global network. This market segment has never been completely captured by anyone," he explains.

HSBC Premier provides five benefits for customers: international recognition and support, international services, HSBC Premier MasterCard, Global Wealth Management and other privileges.

HSBC Premier customers are recognised and treated in accordance with the same standards they receive at home, no matter which countries they visit.

HSBC lounges around the world, which are in the process of renovation, are available for Internet access, consultations with relation managers, meetings or even coffee breaks.

A customer can enter an HSBC branch anywhere in, say, Italy or make a phone call to an HSBC call centre at no charge after forgetting to pay an electricity bill in Thailand.

Customers who have lost a purse or wallet in a foreign country can inform any branch and have a new credit card within 24 hours and US$1,000 (Bt33,900) in emergency cash per day.

Moreover, customers can preopen accounts abroad and get bank accounts, ATM and credit cards with the same line of credit before leaving for a new country.

If they want to settle abroad, buying a new home in their new country, they don't have to provide additional information and financial data for loan approval, because their credit ratings are carried around the world.

"HSBC employees in any branch can access the Internet, acknowledge credits and make financial transactions. Such borderless financial transactions can help customers achieve their targets," Wichit says.

HSBC Premier MasterCard holders earn higher points than those of other credit cards and they receive special discounts for goods and services.

Importantly, Global Wealth Management allows customers to gain higher returns on investments with acceptable risk.

Wichit says HSBC will provide customer briefings on the economic picture and global perspective of any country, along with consultations with relation managers. Each customer is offered financial products with the lowest risk and highest returns, to fit his or her needs.

"We digest the world to fit it into our customers' hands. They receive the best returns from the world's best products selected by competent experts and economists," he says.

By the end of 2009, Wichit is required to have quadrupled the number of customers and portfolios in Thailand. So far, he is ahead of that target and plans to more than double this year's result next year.

For a man who sees an opportunity in every threat, the challenge is unlikely to be a difficult one, particularly if the economy turns around next year like everyone is predicting.

Anoma Srisukkasem

 The Nation