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HSBC Private Bank recruits Coutts and SLA directors in hire spree

HSBC Private Bank recruits Coutts and SLA directors in hire spree

HSBC Private Bank has hired a series of senior investment staff to 10 new roles, Wealth Manager sister title Citywire Selector has learned.

The newly created positions will boost the bank’s London fund selection team, alongside hires in Geneva, Hong Kong and Singapore.

Former Aberdeen Standard director for fixed income Yassar Ali has joined as head of fixed income funds and will be based in London. He has more than 15 years’ experience.

Brendan Ash has joined from Coutts to serves as head of ETFs, while Guy Boden, who was most recently a senior research analyst at Stamford Associates, is named head of equity funds.

Muna Abu-Habsa joins as head of multi-asset and ESG funds. Abu-Habsa, who was previously with Morningstar, has 12 years of fund research experience

A number of senior fund analysts have also been recruited. Both Simon Dorricott and Ashis Dash join from Morningstar and will serve as senior equity funds analyst and senior fixed income funds analyst, respectively.

Reshma Moloo, who was previously with Citi Private Bank, is the final addition to the London office. She will work with Abu-Habsa in the capacity of senior multi-asset funds analyst.

HSBC has targeted its private bank for rebirth following a £2.6 billion write-down in 2017, following a tax dodging scandal in its Swiss division in 2015.   

In August the company said it planned to add more than 100 staff members across its network in Europe, the Middle East and Africa by early next year, including appointments to its offices in the UK and Channel Islands.

A spokesperson for the group said the bank was unable to offer guidance on how many of the new recruits would join in London, or elsewhere in the UK.

The drive is part of a wider expansion of the unit’s global headcount, with a 240 person recruitment target over the next six months heavily weighted to East Asia.

In a statement, HSBC Global Private Banking chief executive Peter Boyles said: ‘We are now entering a new phase of growth for which we are hiring talent across key markets.’

The hiring spree will grow the division’s 3,000 strong payroll by almost 9%.

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