PRIVATE BANKING | Tony Chua, Hong Kong

HSBC introduces new Private Banking leadership teams

The lender announced replacements of heads of North Asia, South East Asia, and EMEA regions.

HSBC announced the appointment of new regional leadership teams in Asia and EMEA within its Global Private Banking business. In Asia, Desmond Liu will become Head of Private Banking for North Asia and Nancie Dupier will become Head of Private Banking for South East Asia. They succeed Monica Wong, who has decided to retire. Meanwhile, Alexandre Zeller will assume the new role of CEO for Private Banking in Europe, Middle East and Africa (EMEA). All three will report to Chris Meares, CEO of Global Private Banking, according to an HSBC report.

"These management appointments reposition Global Private Banking to take advantage of the entrepreneurial wealth creation that is taking place in the emerging markets," said Meares. "They also reflect the depth of talent we have in Global Private Banking and will enable us to build on Monica's significant legacy in Asia."

Monica Wong, Chief Executive of Private Banking in Asia, has decided to retire from HSBC, effective 31 December 2010. Wong, who has built one of the leading private banks in the region during her 27 year tenure at HSBC, will become a non-executive Director of HSBC Private Banking (Holdings) SA, subject to regulatory and shareholder approvals.

Liu is currently Global Private Banking’s Market Head for Greater China. He joined HSBC in September 2007 from DBS Bank, where he was head of Private Banking North Asia & Greater China. Before that he was at Prudential Bache and Lehman Brothers Securities where he covered various markets, including Greater China, Japan, the Philippines and Singapore. He also worked at Citibank for a number of years.

Dupier is currently head of Global Private Banking in Singapore. She joined HSBC Bank USA, Private Banking in 2005 as Chief Investment Officer, head of Investment and Product Group, Americas. She assumed her current role in Singapore in February 2010. Before HSBC, Dupier held senior executive roles at Chase Manhattan, JP Morgan and Bank of America.

Given the importance of Asia to HSBC and the potential business growth in the region, Meares will move to Hong Kong to oversee the leadership transition. He will continue to divide his time between Europe and Asia, and the Global Private Banking head office will remain in Europe.

Zeller will continue to be HSBC Country Manager for Switzerland and CEO of HSBC Private Bank (Suisse) SA, HSBC’s private bank based in Geneva. He joined HSBC Private Bank (Suisse) SA in 2008 from Banque Cantonale Vaudoise where he was CEO for six years. Zeller started his career with Nestlé, and spent 16 years with Credit Suisse in Geneva, Zurich and New York.

His new role will see HSBC’s private banking activities in Europe, Middle East and Africa come under one regional leadership for the first time.

HSBC also announced the appointment of Franco Morra as the new Head of Private Banking at HSBC Private Bank (Suisse) SA, reporting to Zeller.

Morra previously worked for UBS where he was most recently Chief Executive Officer, UBS Switzerland and Member of the Group Executive Board. Prior to that role he held various positions at UBS as well as Boston Consulting Group and has significant international experience in banking and wealth management.

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