HSBC Private Bank yesterday announced the appointment of Jackie Mau to the newly-created role of regional head of UHNW for Asia-Pacific, according to a statement from the firm.
“With Asian wealth rising at a faster rate than any other regions, this appointment follows the announcement earlier this year of HSBC Private Banking’s renewed focus on the UHNW segment,” the statement said.
Based in Hong Kong, Mau will be responsible for the growth of the UHNW business in Asia and he will report to Siew Meng Tan, regional head of HSBC PB in Asia-Pacific.
Mau has around 20 years’ financial markets experience. Since joining HSBC in 2003, he has held a number of senior client-facing roles across investment banking and private banking in Hong Kong and in Thailand. He was most recently the co-head of investment services and product solutions (ISPS) for Asia-Pacific.
The bank also said it has appointed Abdel Ben Tkhayet as head of ISPS for Asia-Pacific. Previously, he was co-head of ISPS.
“We are moving from a co-head model to Tkhayet taking sole responsibility for leading ISPS for Asia-Pacific,” according to a spokesman for the firm.
The spokesman added that the two roles will be effective on 1 December and Tkhayet will also be based in Hong Kong.
Tkhayet will continue to report to Stuart Parkinson, chief investment officer, and to Tan.
Tkhayet joined HSBC in 1997 and has around 20 years of banking experience, having worked in France, the UAE, the UK and Hong Kong. He has held senior roles in private banking and global banking and markets at HSBC, according to the statement.
Asia expansion
The statement also noted that “HSBC is investing considerably to grow its Asian private banking business, hiring for 700 roles in five years to the end of 2022 and investing $100m in digital and technology in 2019 and 2020.”
In January this year, HSBC PB named Cynthia Lee as the new head of private wealth solutions (PWS) for North Asia, as a part of its regional expansion plan.
Based in Hong Kong, Lee is taking on a leadership role in supporting clients with their trust, estate planning, family governance, charitable and succession needs, FSA previously reported.
In September last year, the firm also announced five senior appointments, and four of them were external hires.
