People Moves
HSBC Realigns Private Banking Structure In Asia-Pacific
HSBC Global Private Banking has announced a range of management changes in its Asia-Pacific region, melding its two booking centres in the region. The changes take effect immediately.
HSBC Global Private Banking has announced a range of management
changes in its Asia-Pacific region, melding its two booking
centres in the region. The changes take effect immediately.
“These changes are driven by the strategic importance of Asia as
a priority growth region for GPB [global private banking] and
HSBC. The region is
a dynamic geography for wealth creation and HSBC is ideally
placed to capture this business, in close collaboration with
colleagues in all the global businesses,” the bank said in a
statement.
“For historical reasons, the private bank business was run as two
separate booking centres out of North and South Asia. We are
bringing these together into a single region for strategic
alignment,” it said.
Bernard Rennell, who is chief executive of GPB North Asia, has
been appointed as regional head of global private banking,
Asia-Pacific, the statement said. Rennell will continue to be
based in Hong Kong and will report to Peter Boyles, CEO of global
private banking, and Peter Wong, chief executive, The Hong Kong
and Shanghai Banking Corporation.
Rob Ioannou and Sandeep Sharma are promoted to Co-heads of GPB
Southeast Asia, reporting functionally to Rennell, regional head
of GPB and locally to Guy Harvey-Samuel, group general manager
and CEO, HSBC Singapore. Both will continue to be based in
Singapore. Ioannou was formerly GPB business head for Singapore,
while Sharma was formerly GPB business head for India. Amit
Gupta, currently CEO of GPB South Asia, has decided to take a
sabbatical from HSBC for personal reasons.
"HSBC remains fully committed to continuing to grow the private
banking business in Singapore and the region, and we have in
place a leadership team with a strong track record of success.
These changes will serve to enhance the day to day dealings of
our clients and the level of service that we offer them," the
bank added.
