A series of appointments to significantly expand the investments and wealth solutions division in Southeast Asia.
Jeffrey Yap joins HSBC as its head of investments and wealth solutions (IWS) for Southeast Asia (SEA), according to a statement, effective immediately.
Yap is tasked with delivering the bank’s wealth solutions, platforms, and insights to Singapore and Southeast Asia clients across the full wealth continuum from mass affluent to ultra-high net worth individuals.
Based in Singapore, he reports to APAC head of IWS Stefan Lecher and Singapore head of wealth and personal banking Anurag Mathur.
Yap has 25 years of experience in the financial sector and he joined HSBC in 2017. He was most recently the bank’s interim head of IWS for Southeast Asia after being shifted from his role as head of investments and products group for Singapore.
SEA Wealth Expansion
In addition, HSBC also announced six other appointments within the IWS division in Southeast Asia to cover clients across the entire wealth continuum.
Ishan Sakar has been named head of capital markets SEA to oversee equity, fixed income, structured products, FX, commodities, and money market products. Sakar was most recently the head of structured products supporting private banking clients in Southeast Asia.
George Lam is appointed head of discretionary, funds and ETFs SEA after previously holding the same role with a focus only on private banking clients in the region.
The former team head for wealth products and journey in Singapore, Mahalakshmi Iyer, will take on the new role of head of wealth solutions and platform SEA.
Fellow ex-team head for wealth products and journey Fei Fei Goh is appointed head of product development SEA and will also have oversight of the wealth lending business in Singapore.
Catherine Ng will take on the role of head of investment suitability SEA following similar past responsibilities focused on private banking clients in the same region.
And another ex-team head for wealth products and journey, Louise Lim, has been named head of wealth product proposition and commercialization SEA and will work closely with IWS product heads as well as the marketing and customer proposition team.
Retail-Private Banking Synergies
According to HSBC, the bank is increasingly seeking to leverage synergies from its businesses across the wealth continuum, evidenced by the latest appointments which included expanded roles for individuals who were previously focused on the private banking segment.
«Since we embarked on our Asia wealth strategy, the Singapore wealth business has grown steadily,» said Mathur.
«This was supported by the strategic investments made in our people and new capabilities, as well as our ability to drive synergies across the retail and private banking businesses to drive growth.»
