HSBC Private Banking continues its hiring drive in Asia with the addition of three relationship managers focusing on the Philippines high-net-worth segment, both in on and offshore locations.
In its onshore private bank in Manilla, HSBC has hired Valerie See-Tang and Janice Marie Laurel as relationship managers. See-Tang was previously a branch head of HSBC’s Quezon City branch and Laurel was a premier team leader of HSBC’s Ortigas branch.
In its offshore center in Hong Kong, the bank is adding Carmen Wong, most recently with J.P. Morgan in the same role and market. Previously, Wong held other roles with Deutsche Bank and Citi.
The Philippines market teams in Manila and Hong Kong report to Bala Balagopalan, market head for Philippines and Japan, North Asia, HSBC Private Banking.
More Wealth Needs
«We are delighted to welcome new talent to our team to serve the increasing wealth needs of our Philippines’ clients,» said Kevin Herbert, co-head for North Asia, HSBC Private Banking.
«Not only do we have one of the largest private banking teams supporting the Philippines market, we believe our strong business heritage, global network, and experience working with families across generations, all give us a competitive edge.»
Market Uncertainty
According to the bank, the increased Philippines coverage occurs amid continued market uncertainty and increasingly sophisticated needs. This has sparked a range of demand that the bank is confident it can fill.
«We’re seeing more demand for alternatives, particularly in private equity and private credit, as well for managed solutions,» Herbert continued.
«In addition, a number of successful family businesses are on the cusp of inter-generational wealth and business transfer. So our knowledge and experience of legacy planning and family governance, are key elements of our offering that Philippines clients value.»
