HSBC announces new Private Banking leadership in Asia and EMEA

Two Private Banking heads for Greater China and Singapore will succeed Monica Wong as Chief Executive of Private Banking in Asia.

Desmond Liu, currently the Private Banking Market Head for Greater China, will become Head of Private Banking for North Asia while Nancie Dupier, Private Banking Head in Singapore, will head Private Banking for South East Asia.

Meanwhile, Alexandre Zeller will assume the new role of CEO for Private Banking in Europe, Middle East and Africa (EMEA). All three will report to Chris Meares, CEO of Global Private Banking.

Wong, who has decided to retire from HSBC, effective 31 December 2010, will become a non-executive Director of HSBC Private Banking (Holdings) SA, subject to regulatory and shareholder approvals.

"These management appointments reposition Global Private Banking to take advantage of the entrepreneurial wealth creation that is taking place in the emerging markets," said Meares. "They also reflect the depth of talent we have in Global Private Banking and will enable us to build on Monica's significant legacy in Asia."

Liu joined HSBC in September 2007 from DBS Bank, where he was head of Private Banking North Asia & Greater China. Before that he was at Prudential Bache and Lehman Brothers Securities where he covered various markets, including Greater China, Japan, the Philippines and Singapore. He also worked at Citibank for a number of years.

Dupier joined HSBC Bank USA, Private Banking in 2005 as Chief Investment Officer, head of Investment and Product Group, Americas. She assumed her current role in Singapore in February 2010. Before HSBC, Dupier held senior executive roles at Chase Manhattan, JP Morgan and Bank of America.

Zeller will continue to be HSBC Country Manager for Switzerland and CEO of HSBC Private Bank (Suisse) SA, HSBC’s private bank based in Geneva. He joined HSBC Private Bank (Suisse) SA in 2008 from Banque Cantonale Vaudoise where he was CEO for six years. Zeller started his career with Nestlé, and spent 16 years with Credit Suisse in Geneva, Zurich and New York.

His new role will see HSBC’s private banking activities in Europe, Middle East and Africa come under one regional leadership for the first time.

HSBC today also announced the appointment of Franco Morra as the new Head of Private Banking at HSBC Private Bank (Suisse) SA, reporting to Zeller.

Morra previously worked for UBS where he was most recently Chief Executive Officer, UBS Switzerland and Member of the Group Executive Board. Prior to that role he held various positions at UBS as well as Boston Consulting Group and has significant international experience in banking and wealth management.