HSBC Private Bank CEO Annabel Spring Plans New Hiring Drive in Asia, UBS Overtook HSBC as Largest Wealth Manager in Asia with $645 Billion AUM after Buying Credit Suisse in 2023, HSBC with $549 Billion AUM in Asia
4th July 2024 | Hong Kong
HSBC Private Bank CEO Annabel Spring is planning for a new hiring drive in Asia, with UBS overtaking HSBC as the largest wealth manager in Asia with $645 billion AUM after buying Credit Suisse in 2023 (HSBC with $549 Billion AUM in Asia). In 2024 June, HSBC hired Standard Chartered Bank Jean Nabaa as HSBC Global Private Banking & Wealth COO (16/9/24), joining from Standard Chartered Bank where he last held the role of COO for Standard Chartered Bank Wealth & Retail Banking (Joined Standard Chartered Bank from Merrill Lynch in 2014). Jean Nabaa will relocate from Singapore to Hong Kong in his new role. In 2023, HSBC hired Deutsche Bank Hong Kong CEO Lok Yim as HSBC Regional Head of Global Private Banking APAC (Designate 1/11/23, Official 1/1/24), succeeding Siew Meng Tan who retired after 20 years in HSBC (7 years in private banking) and a 40 years career in banking.
“ HSBC Private Bank CEO Annabel Spring Plans New Hiring Drive in Asia, UBS Overtook HSBC as Largest Wealth Manager in Asia with $645 Billion AUM after Buying Credit Suisse in 2023, HSBC with $549 Billion AUM in Asia “
HSBC Hires Standard Chartered Bank Jean Nabaa as HSBC Private Banking & Wealth COO, Jean Nabaa was Standard Chartered Bank COO of Wealth & Retail Banking
28th June 2024 – HSBC has hired Standard Chartered Bank Jean Nabaa as HSBC Global Private Banking & Wealth COO (16/9/24), joining from Standard Chartered Bank where he last held the role of COO for Standard Chartered Bank Wealth & Retail Banking (Joined Standard Chartered Bank from Merrill Lynch in 2014). Jean Nabaa will relocate from Singapore to Hong Kong in his new role. In 2023, HSBC hired Deutsche Bank Hong Kong CEO Lok Yim as HSBC Regional Head of Global Private Banking APAC (Designate 1/11/23, Official 1/1/24), succeeding Siew Meng Tan who retired after 20 years in HSBC (7 years in private banking) and a 40 years career in banking.
HSBC Hires Deutsche Bank Hong Kong CEO Lok Yim as Regional Head of Global Private Banking APAC, Succeeds Siew Meng Tan Who is Retiring after 20 Years in HSBC & 40 Years Career in Banking
14th September 2023 – HSBC has hired Deutsche Bank Hong Kong CEO Lok Yim as HSBC Regional Head of Global Private Banking APAC (Designate 1/11/23, Official 1/1/24), succeeding Siew Meng Tan who is retiring after 20 years in HSBC (7 years in private banking) and a 40 years career in banking. Siew Meng Tan will remain as advisor to HSBC Global Private Banking APAC until 31st March 2024. Lok Yim has around 30 years of private banking & capital markets experience, joining from Deutsche Bank after 16 years (last role CEO Hong Kong), and previously leading Deutsche Bank Wealth Management and International Private Banking franchises in Asia & Emerging Markets. Prior to Deutsche Bank, Lok Yim was with Citigroup for more than 11 years. Lok Yim has a Master of Arts degree from the University of Cambridge. Based in Hong Kong, Yim will report to Annabel Spring, HSBC CEO Global Private Banking and Wealth on a functional basis, and Kai Zhang, HSBC Head of Wealth and Personal Banking, South Asia on an entity basis. HSBC Global Private Banking Asia currently manages around $151 billion in invested assets.
Annabel Spring, CEO of Global Private Banking & Wealth: “We are delighted to welcome Lok to the team. He joins us at an exciting time. We have a clear strategy to be the world’s leading wealth manager and global private bank for Asian and international clients and entrepreneurs. Our build-out in Asia – an epicentre of wealth creation and investment opportunity – is key to this ambition. Lok’s proven experience in mobilising and leading teams to deliver one-bank solutions for entrepreneurial clients will enable us to accelerate the delivery of our strategy in Asia. We would also like to thank Siew Meng for her tremendous contribution. Siew Meng is a role model leader whose positive impact will continue to be felt throughout the organisation. She leaves HSBC Global Private Banking stronger than ever and energised for growth in Asia. We wish Siew Meng the very best in her retirement.”
HSBC Global Private Banking
HSBC Global Private Banking ranks among Asia’s largest private banks with an extensive regional footprint. As at the end of June 2023, HSBC Global Private Banking’s Asia invested assets totalled USD151 billion – an increase of 10% year-on-year driven by robust net new invested inflows including USD13 billion in the first six months of 2023.
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