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November 25, 2021

HSBC makes tech-focused senior hires in Asia

By Verdict Staff

HSBC has reportedly hired two tech-focused senior investment bankers from rival UBS as part of its strategy to ramp up Asia technology sector investment banking coverage.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
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  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
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by GlobalData
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The British bank has named Ajinkya Mukhopadhyay as head of technology, media and telecom for Southeast Asia and India, Bloomberg reported citing an internal memo.

Mukhopadhyay, who will be based in Singapore, has two decades of experience in investing and dealmaking.

He last worked as head of TMT global banking for Southeast Asia and India at UBS. Prior to that, he worked with Telstra, as head of mergers and acquisitions and international business development.

HSBC has also hired Andrew An as a managing director responsible for TMT in China. An also joins the bank from UBS.

He will continue to be based in Hong Kong.

According to the memo, both Mukhopadhyay and An will report to HSBC Global TMT co-heads Winston Cheng and Dan Bailey.

The appointments were confirmed to the news agency by an HSBC spokesperson.

New appointments in Geneva

Separately, HSBC Switzerland has made a number of new hires to its Geneva-based investment management team.

The bank has reportedly named Karl Faivre as head of investments and wealth solutions (IWS) for Europe, Middle East, and Africa.

Faivre previously served as the bank’s regional investments and wealth solutions chief.

HSBC’s swiss unit has also named Alexander Neil head of Equity Advisory in a bid to fortify its stock picking capacities. Neil joined HSBC in 2018 from EFG International.

The bank also hired Cristiano Mendes as a structured product specialist in Switzerland. Mendes join the firm from Barclay’ wealth arm. He has previously worked with UBS as well as Lombard Odier.

Other appointments

Earlier this month, HSBC Asset Management hired Daisy Ho to lead its business in Asia-Pacific and Hong Kong.

In July this year, the bank announced three strategic appointments, following a revamp of its management structure.

It appointed Rob Embury as head of collaboration, Europe, Middle East and Africa (EMEA), and Gemma Wild as head of collaboration for Middle East and North Africa (MENA). Kevin Herbert was named as head of GPB, Channel Islands and Isle of Man (CIIOM).

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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