HONG KONG (Bloomberg) - HSBC Holdings plc. plans to recruit more than 300 relationship managers and sales staff in Hong Kong as more affluent customers from mainland China seek to invest in or through the city.

The majority of new hires will join the wealth management unit of the lender in the Asian city, Francesca McDonagh, HSBC's head of personal financial services for Hong Kong, told reporters on a conference call yesterday.

HSBC joins rivals including Standard Chartered plc. in expanding businesses that target wealthy clients in the region. Asia-Pacific is forecast to surpass North America by 2013 as the world's largest private banking market, according to a Capgemini SA and Merrill Lynch report.

"The business outlook is fairly positive," McDonagh said. It is "a fairly competitive market out there" for hiring as rivals are also looking for talent, she said.

BOC Hong Kong (Holdings) Ltd. units are seeking to hire 200 workers, it said earlier this month.