HSBC Private Bank appointed two banking veterans as it renews its focus on serving the ultra high net worth segment in Asia.
Gabriel Tam has been appointed Regional Head of Ultra High Net Worth (UHNW) Solutions, Asia, with responsibility for connecting sophisticated clients with product capabilities from both HSBC’s Private Banking and Global Banking and Markets product teams.
Secondly, Erik Bergqvist has been appointed Head of UHNW Segment Management, to develop and deliver HSBC Private Banking’s UHNW proposition and client experience.
«We are developing a unique proposition for our UHNW clients and family offices, many of whom have derived significant wealth from their businesses. In addition to providing clients with sophisticated investment solutions, we aim to deliver strong linkages into our Commercial Banking business, to help structure wealth through our market-leading Trust business, and to open the full global network of the HSBC Group,» said Siew Meng Tan (pictured above), Regional Head of HSBC Private Banking, Asia Pacific in a media statement.
Previous Roles
Tan has more than 17 years of financial markets experience. He was most recently the Asia Pacific Head of Equity Derivatives Distribution at Bank of America Merrill Lynch in Hong Kong, responsible for sales of flow and structured Asian equity derivatives to institutional clients globally. Prior to that, Gabriel was Asia Pacific Head of Convertible Bonds Distribution at BAML.
Bergqvist and a new UHNW servicing team will provide a dedicated center to support UHNW clients across the Asia Pacific. Previously from Julius Baer and UBS, he has more than 17 years of financial services and wealth management experience.
HSBC private bank has hired for 700 roles over five years to the end of 2022 and investing $100m in technology by the end of 2020. The renewed strategy appears to follow banks such as Credit Suisse, which taps on both private banking and investment banking arms to serve ultra high net worth clients in the region.
