HSBC Private Banking UK hires new relationship team to accelerate growth and increase the firm’s presence within the senior finance professionals' market, including private equity and hedge funds.

HSBC Private Banking UK has recruited a team of relationship managers in its London office to focus on financial markets professionals, as a new proposition across both high net worth and ultra-high net worth segments.

Phil Aleppo will lead the team, reporting directly to Charles Boulton, CEO, private banking UK, the firm said in a statement. Aleppo brings experience from a career spanning more than 25 years in wealth management. He is joining from Credit Suisse where he led a team of UHNW and HNW bankers in the UK domestic team. Prior to this, he spent 10 years at Barclays Private Bank, where he was head of special focus teams, leading the financial professionals, res non-doms, charities and legal sector teams.

Aleppo and his newly-created team will focus on accelerating growth and increasing the firm’s presence within the senior finance professionals' market including private equity and hedge funds, the firm continued. Joining his team are Henri Etchegoyen, Brad Werner, Usmaan Aziz and Oliver Beasant. The bank said they are experts in catering for this type of client.

Following a record year in 2022 with $39 billion of UK client assets, HSBC said it has invested substantially in attracting key talent, with almost 30 new relationship managers having joined so far this year.

“These new hires demonstrate our commitment to growth in the UK. The UK is both a key market for HSBC and our clients, many of whom have international needs. Our strong balance sheet combined with our extensive investment proposition and global footprint make us an attractive advisor to sophisticated financial markets clients," Boulton said.