HSBC private bank appointed a market head for its Indonesia business. The new hire was recently CEO of a boutique private bank in Singapore.
With over 39 years of private banking experience and 29 years Singapore banking experience, HSBC named Benedikt Maissen new market head for Indonesia. The bank announced the move in a media statement on Monday.
Unexpected Move
Prior to joining HSBC Maissen was the head of Brazilian-Swiss firm J. Safra Sarasin's Singapore branch until January this year. He had been poached in 2016 from Societe Generale, where he ran the French bank's Zurich branch for two years.
Maissen has extensive experience and expertise is in Asia: he spent several years in Singapore for SocGen as well as for Barclays' wealth outfit. His departure after just 21 months was seen as a setback for Safra Sarasin and Enid Yip, the private bank's head in wider Asia.
In his new Singapore-based position Maissen will report directly to Philip Kunz, head of Southeast Asia, HSBC private banking. Kunz rejoined HSBC in September 2017. He was formerly the chief operating officer at UBS wealth management in Southeast Asia.
