In order to build on Private Wealth Solutions’ comprehensive regional support for a growing number of HSBC Group-connected clients, Cynthia Lee takes on an expanded role to cover Asia Pacific. The change means PWS’ structure will mirror that of Private Banking, the largest contributor of referrals for the business. Cynthia will continue to report to Alan Beattie, Global Head of Private Wealth Solutions.
Cynthia joined HSBC as Head of PWS, North Asia, in January 2019. She was formerly at JP Morgan where she was most recently Head of Wealth Advisory for Asia. Cynthia has over 20 years of wealth advisory experience, focusing on private clients and families.
Steven joins HSBC after 23 years at Citi Private Bank. Most recently, Steven was Head of International Fiduciary Services based in Zurich, Switzerland, leading a global team of professionals with responsibility for International Trust companies in the Bahamas, the Cayman Islands, Jersey, Singapore and Switzerland. Prior to this, Steven was the Regional Trust Head for Asia, responsible for the delivery of wealth planning to Private Banking clients in Asia with a strong focus on Next Gen and Wealth Transfer Planning. Steven has also held other Trust, Private Banking and business advisory roles at Citi and KPMG in Switzerland and Australia.
Steven will be based in Singapore, reporting to Cynthia Lee, Regional Head of Private Wealth Solutions, Asia Pacific. He takes over from Michelle Lau, who has been appointed to a new role within HSBC Private Banking as Managing Director, Ultra High Net Worth and Family Office Strategic Services, South East Asia. In her new position, Michelle will drive further development in South East Asia of HSBC Private Banking’s UHNW proposition, services for Family Offices, and global connectivity.
“As one of the world’s largest trust and fiduciary service providers, we have been supporting individuals and families with wealth, business and family succession solutions for more than 70 years,” said Alan Beattie, Global Head of Private Wealth Solutions. “As we look to strengthen our position in Asia, a region where we continue to see immense opportunity, Cynthia and Steven’s wealth of experience and deep expertise will help us bring the best of PWS to our Asian clients.” HSBC is aiming to significantly expand its Asian Private Banking business over the next five years, including Private Wealth Solutions. With a key focus on Greater China and the ASEAN region, HSBC Private Banking has continued to expand its Asia team with top quality talent from the market.