HSBC continues to bolster its private banking business in Asia with its hire of chief operating officer, who joins from J.P. Morgan's wealth arm, finews.asia has learned.
Sharon Oh joins HSBC Private Banking as its chief operating officer, replacing Gaurav Rao, who recently relocated to London for another role within the private bank. In her new role, Oh will report to Siew Meng Tan, APAC head of HSBC Private Banking, and Anil Venuturualli, global COO of the business. A spokesperson for the bank confirmed the hire to finews.asia.
Oh was most recently with J.P. Morgan's private banking arm where she was its chief of staff in the London-based global institutional client segment. Prior to this, Oh spent five years with J.P. Morgan Private Bank's Hong Kong-based unit and was also previously Credit Suisse's North Asia COO.
Combined Unit
Earlier this year, HSBC merged its retail, wealth management and private banking business into a single $1.4 trillion unit – «WPB» – in a bid to drive double-digit growth in client assets and revenue in the coming years.
«[Oh] will help us accelerate the delivery of our key initiatives and to harness the benefits of becoming part of WPB,» Tan said in a statement.
