These appointments support HSBC’s sharpened focus to become the leading wealth manager in Asia and signal continued investment in talent to deliver on its growth agenda.
Earlier this year, HSBC announced the launch of a new global business, Wealth and Personal Banking, combining Retail Banking and Wealth Management and Global Private Banking, to become one of the world’s largest global wealth managers with USD1.4 trillion in wealth balances, with nearly half from Asia.
Wealth and Personal Banking covers the entire spectrum of private wealth, from retail clients to ultra-high net worth (UHNW) individuals. HSBC will continue to invest in its wealth management business globally, with a particular focus on Asia, including Hong Kong and mainland China (especially the Greater Bay Area) as well as South-East Asia, some of the world’s fastest growing economies and wealth pools.
These appointments also underscore efforts to cement Singapore’s role as a prime international wealth centre, supported by HSBC Singapore’s continued focus on growth, particularly to double overall combined retail and private banking total wealth over five years.
Philip Kunz, Head of Private Banking, Southeast Asia, HSBC Private Banking said: “Southeast Asia is home to some of the fastest growing economies spurring a next generation of wealthy entrepreneurs. Singapore and Malaysia sit at the nexus as many entrepreneurs look to expand regionally. I am confident that with the leadership, expertise and experience of Ken and Gary, we will provide a distinctive experience to meet our clients’ private wealth needs and accelerate progress in our strategy.”
Ken has been with HSBC since 1995 and joined HSBC Private Banking in 2014. In his previous role as Desk Head, he led his team to achieve substantial growth over the last three consecutive years. He has 25 years of experience in financial services across Wealth Management, Corporate Banking and Risk.
Gary joined HSBC in 2019 from an international bank where he was most recently Market Head of South and Southeast Asia. His 23-year financial markets experience includes originating strategic opportunities, private financing and providing product solutions to private banking clients.
Ken and Gary will report directly to Philip Kunz, Head of Southeast Asia, HSBC Private Banking. These appointments, based in Singapore, are effective immediately.