HSBC Head of Retail Banking and Wealth Management, Glen Tonks, says the change in approach is "market leading" and is being rolled out across the global HSBC network.
Its 30 relationship managers are now incentivised on things like client satisfaction, getting it right first time, and their values and behaviours
"We no longer use product sales targets," he says.
"We want to reinforce that customers are front and centre," he says.
Relationship managers are now focussed on customers' "personal economy". He says they need to understand more about a customer and their needs and aspirations, rather than just doing a transaction with them.
Tonks says the change has been well recevied by the relationship managers.
The nuts and bolts of the bank's Premier product remain unchanged, however it has launched market leading pricing on its one, two and three-year fixed home loan rates as part of the the proposition's relaunch.
To qualify as a Premier customer clients need to combined lending of more than $500,000 with the bank or $100,000 in savings and investments at HSBC.
