HSBC has appointed Simon Williams as group head of wealth management, an appointment which is effective 11 July and will see him based in Hong Kong.

Williams is currently chairman and chief executive of Camelot Financial Capital Management, a US-based investment group. Prior to this he was a senior executive at Citigroup, where he held various roles during his career including CEO of Citibank International Retail Bank and chief risk officer for Citigroup Global Consumer Group. He has also held senior management roles at GE Capital, Bain & Co and PwC.

In his new role at HSBC Williams will be responsible for leading the development of retail wealth management business capabilities in key markets for the HSBC Group.

He will report to Paul Thurston, the firm’s CEO of retail banking and wealth management.

In a strategy note sent out in May HSBC stated that the development of retail wealth management capabilities would be key in its growth plans.