HSBC Private Bank has appointed Teddy Kwong as business head, Hong Kong, global private banking.

Kwong, based in Hong Kong, is not "directly replacing anyone" and will report to Bernard Rennell, North Asia chief executive for global private banking and global head of private wealth solutions, the bank said in a statement released yesterday.

In his new role, Kwong will assume responsibility for HSBC’s private banking client coverage in the Hong Kong market. He will focus on client service and cross-selling opportunities in HSBC’s commercial banking client base.

“HSBC Private Bank continues to be a recognised market leader and we have achieved this success through looking to continually develop and having strong leadership in place, said Rennell.

Kwong has been with HSBC for his entire 25-year career, the majority of which has been in commercial banking working closely with families on the corporate side. Besides his experience as a frontline banker, Kwong has also worked in strategy and proposition development. Most recently, as chief executive of Macau, he led the business there through many changes and supported its highly successful business growth, the bank said.

“Bringing someone of Teddy’s calibre in not only further strengthens our management team but also develops the connections that we are forging between corporate customers and their private businesses,” Rennell added.