HSBC makes key hires to boost growth in ultra-high-net-worth market in Asia

HSBC Global Private Banking has made two senior hires for a devoted workforce serving the financial institution’s ultra-high-net-worth (UHNW) shoppers.

The financial institution appointed Kerri Lim as head of the UHNW phase for Asia. Her job in spearheading the UHNW progress technique within the area contains delivering bespoke wealth merchandise, platforms and options. Her function takes impact on Monday (Mar 11).

She will report back to HSBC’s UHNW international head Caroline Kitidis on a purposeful foundation, and to Lavanya Chari, the financial institution’s international head of investments and wealth options, on an entity foundation.

Kitidis stated: “We expanded our Asia team to allow us to better nurture long-lasting and rewarding client relationships in this underserved market.”

Lim joins HSBC from UBS, the place she was most just lately head of enterprise growth for international household institutional wealth within the Asia-Pacific.

She has over 20 years of expertise spanning client-relationship administration, expertise, and programme administration with international monetary establishments corresponding to Morgan Stanley and Credit Suisse.

HSBC’s different senior-level rent is Pritash Mathur, who will probably be head of household workplace protection for international India and international South Asia. Reporting to Lim, he will probably be chargeable for HSBC’s UHNW progress technique in India and South Asia, and work with the financial institution’s market heads in India, the Asia-Pacific, the Middle East and North Africa, and Europe.

He has greater than twenty years of expertise in non-public banking and joins from an intensive stint at HSBC Hong Kong and Singapore, the place he performed a key function in launching the financial institution’s India private-banking enterprise.

Before HSBC, he labored at Credit Suisse in Singapore, Zurich and India, the place he arrange the India onshore non-public financial institution in 2008.

Lim and Mathur will probably be based mostly in Singapore, HSBC famous.

Their appointments observe two hires within the fourth quarter of 2023: Edith Wong, head of the UHNW phase in North Asia, and Sam Wong, growth supervisor of the UHNW phase in Asia. Both report back to Lim.

Lok Yim, HSBC’s regional head of world non-public banking within the Asia-Pacific, stated: “We are past a non-public financial institution for ultra-high-net-worth shoppers and household places of work. The sturdy collaboration throughout numerous traces of enterprise inside HSBC Group permits a complete one-stop banking expertise, and this workforce will play an important function in capturing progress alternatives within the area.

“Kerri, Pritash, Edith and Sam each offer their deep understanding of client needs, along with strong market acumen and expertise in different aspects of investment, wealth and legacy planning.”