HSBC has appointed a 12-year veteran of the bank to head its retail bank's wealth management division, as the bank seeks to tap the growing pool of affluent Asians.

HSBC has appointed a 12-year veteran of the bank to head its retail bank's wealth management division, as the bank seeks to tap the growing pool of affluent Asians.

Diana Cesar started at the beginning of this month, responsible for the management for HSBC’s RBWM business in Hong Kong as well as marketing in Hong Kong.

She was previously HSBC’s head of marketing and customer propositions, Asia-Pacific.

“Across the region, the retail banking and wealth management landscape continues to evolve and cater to enhanced customer demands. Diana brings deep retail and wealth management experience in marketing, cards, mortgages, distribution strategy and consumer propositions within RBWM Hong Kong and Asia-Pacific,” said Anita Fung, chief executive officer, HSBC, Hong Kong and Louisa Cheang, regional head of retail banking and wealth management, Asia-Pacific. Yesterday HSBC outlined the importance of the affluent market in the region, in the latest quarterly HSBC Affluent Asian Tracker.

Six out of ten Asian mass affluent individuals (those with net worth of around $130,000 and above) grew their wealth in the first half of this year, according to the survey of 4,408 affluent individuals aged 18 to 65. 

Cesar joined HSBC in 1999 as a senior customer marketing manager for personal financial services in the region. The bank did not say whether it was a new role or if Cesar was replacing someone.

The news comes on the heels of the announcement earlier this month that HSBC would shed 3,000 jobs in its Hong Kong unit, around 13 per cent of staff in the city, as part of a cost-cutting drive.