HSBC's Swiss private banking unit is hiring a whole range of new staff from major banks and Geneva-based competitors like Lombard Odier.
HSBC Private Bank (Switzerland) has been busy recruiting and strengthening its offshore business from Switzerland in the first half of the year, according to a statement on Thursday.
Juan Antonio Roche is appointed the new head of sales, and Esty Dwek joins as a new investment advisory officer. Roche previously worked at UBS and Santander, while Dwek held senior positions at Geneva-based Flow Bank and Natixis Investment Managers.
Part of a New Team
Based in Switzerland, they are part of a newly formed team to drive growth in the Europe, Middle East, and Africa (Emea) region.
HSBC Private Bank expanded its local offshore banking for clients in Asia with new additions including Neil De Sousa, who is promoted to head of the Emea desk for Asia after seven years at the bank. Klara Chan, who had previously worked at Credit Suisse and JP Morgan is appointed senior relationship manager for Asia.
UBS and Credit Suisse
The HSBC subsidiary was able to recruit Martin Hediger as senior advisor for clients in Switzerland's domestic market from UBS. The local desk for super-rich Saudis comes under the leadership of Mario Luis Penabad, formerly of Geneva-based private bank Lombard Odier and UBS. Mathieu Brizon joins from Lombard Odier as a senior client advisor.
Marco Ardigo, formerly with Credit Suisse, takes on the newly created position of heading the business with Italian billionaires. Ten-year HSBC veteran Carl Forsgren becomes responsible for the UHNWI clientele in Northern Europe and international markets.
Strong Inflows to Start the Year
The expansion is taking place under the aegis of Gabriel Castello, head of the Swiss private bank since last year, and Emea regional head in the bank's Global Private Banking division. According to Castello, the recruiting drive underscores the bank's growth intentions in Switzerland and Emea focusing on super-rich clients and entrepreneurial families.
The Swiss private bank reported strong asset inflows in the first quarter of the year. In Europe HSBC said it had $153 billion in funds under management from private individuals at the end of last year, making Switzerland stand out as its most important booking center.
