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

HSBC Global Private Banking has made two senior hires, who type a part of a devoted crew serving the financial institution’s ultra-high internet value (UHNW) purchasers.

The financial institution appointed Kerri Lim as head of the UHNW section for Asia, the place she’s going to spearhead the UHNW development technique within the area. This contains delivering bespoke wealth merchandise, platforms and options. Her position is efficient Mar 11, 2024.

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

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

Lim joins HSBC from UBS, the place she was most not too long ago head of enterprise growth for international household institutional wealth in Asia-Pacific.

She has over 20 years of expertise spanning shopper relationship administration, know-how, and programme administration features with international monetary establishments like Morgan Stanley and Credit Suisse.

HSBC has additionally appointed Pritash Mathur as head of household workplace protection for international India and international South Asia. Reporting to Lim, he will probably be chargeable for HSBC’s UHNW development technique in India and South Asia and work intently with market heads in India, Asia-Pacific, the Middle East and North Africa, and Europe.

He has over 20 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 position in launching the financial institution’s India non-public banking enterprise.

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

Both 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 section in North Asia, and Sam Wong, growth supervisor of the UHNW section in Asia. Both report back to Lim.

“We are past a non-public financial institution for ultra-high internet value purchasers and household workplaces. The sturdy collaboration throughout various strains of enterprise inside HSBC Group permits a complete one-stop banking expertise, and this crew will play a significant position in capturing development 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,” mentioned Lok Yim, HSBC’s regional head of worldwide non-public banking in Asia-Pacific.