Leung will oversee the South Asia team of HSBC Global Private Banking in order to support the goals of business owners, wealthy individuals, and their families both locally and internationally.

He will also be responsible for driving growth and performance in South Asia markets where HSBC global private banking is quickening its onshore, offshore, and international wealth corridor expansion.

Based in Singapore, Leung will report to Siew Meng Tan, regional head of HSBC global private banking, Asia Pacific, and on an entity basis to Kai Zhang, head of wealth and personal banking, South Asia.

He replaces Philip Kunz, who has chosen to take a professional break after six years with the bank.

Leung offers a career spanning over two decades of expertise in private and investment banking to UBS, where he last served as managing director and co-head of global family and institutional wealth, APAC.

Amid other key roles, he has held the positions of head of active portfolio advisory for the private bank of APAC and head of credit sales for the investment bank of APAC.

Furthermore, Leung earned a bachelor’s degree in political science from the University of Chicago.

Tan stated: “Our expansion in South Asia is gaining momentum as we invest in our capabilities and deepen our presence. Tommy’s expertise in delivering solutions for ultra-high-net-worth and entrepreneurial clients and his strong track record of strategic execution make him the ideal person to take the business forward in South Asia. I thank Philip for his substantial contribution to HSBC Global Private Banking and wish him the very best in his future endeavours.”

As part of its aim to become Asia’s preeminent wealth manager, HSBC continues to invest in its global private banking client and product capabilities at its Singapore wealth centre.

The bank has further widened in major growth regions, integrating global private banking in Thailand in 2021 and India in July 2023.