HSBC Private Bank has appointed Stuart Chapell to the newly-created role of head of insurance and financial solutions.

In his new role Mr Chapell will work closely with Private Wealth Solutions and the bank’s specialist tax group to develop insurance and tax-aware services for UK clients, HSBC Private Bank said in a statement. Based in London, he will report to Stephen Skelly, head of Private Wealth Solutions Europe.

“Such a significant hire is further evidence of our commitment to providing market-leading financial solutions to our clients. The current climate, in particular, calls for greater knowledge and understanding of the impact of higher taxes on investment returns,” said Declan Sheehan, HSBC Private Bank’s chief executive.

Mr Chapell was most recently the director of Barclays Wealth’s advisory and financial solutions unit, having been hired to head the financial planning unit within Barclays Private Bank in 2002. His career also includes having managed the financial planning team at Price Waterhouse in London.

In other recent hires, last month HSBC Private Bank appointed Nancie Dupier as its new chief executive for Singapore – a role she will take up on 1 February. Ms Dupier - who currently holds the post of chief investment officer, head of investment and product group for the Americas - will succeed Jimmy So, who has headed the Singapore business for the past three years.

Ms Dupier joined HSBC Bank USA, NA, Private Banking in 2005. Prior to this she held senior executive roles at Chase Manhattan, JP Morgan and Bank of America.