People Moves
HSBC Private Banking Steps Up Family Offices Strategy
The appointment highlights how the family offices and ultra-high net worth client space is being targeted by large groups such as HSBC. The role is a newly created one for the bank, it said.
HSBC
Private Banking in the UK has appointed former senior
JP Morgan figure
Robert Kalff to head up its family office operations. HSBC
told WealthBriefing that this is a newly created
role.
At JP Morgan, Kalff was head of origination at the private bank
in the UK, covering entrepreneurs, City executives and family
offices.
In his new role, Kalff will boost development of the family
office coverage in the UK and international markets, assuming
responsibility for increasing new business development, and
implementing the family office business strategy for the private
bank.
Kalff has more than 25 years of investment banking and private
banking experience gained across a variety of organisations
including UBS, Credit Suisse, Deutsche Bank and, for the past
nine years, at JP Morgan. He received his MA in law from
Leiden University and studied management at Northwestern
University in Evanston, Illinois.
“The ultra-high net worth client group of our private banking
business is our largest and of key importance. As part of our
strategic growth agenda, we have increased our focus on family
offices over the past year, developing our expertise to deliver a
holistic offering and proposition suited to their bespoke needs,”
Caroline Kitidis, regional head for UHNW, Europe, Middle East,
Africa and US, said.
In 2020, the UK/Hong Kong-listed bank launched a prime services
offering to support clients who want institutional access and
capabilities alongside its global custody provisions. The bank
has also developed its capital markets and private market
capabilities with the creation of its Ultra Solutions Group and
it has built out an offering across alternatives and advisory
aligned to the needs of these clients.
Other senior hires in recent months include those of Laura
Geiger-Pancera, joining from UBS to lead the family office
coverage in Switzerland, along with Michael Fitoussi from
Citigroup, heading the ultra-solutions group in the UK.