Private Banks

HSBC Global Private Banking Expands Team with Addition of NRI Banker

HSBC Global Private Banking is expanding its team with the addition of a new banker specializing in the Non-Resident Indian (NRI) and Middle East and North Africa (MENA) segment, bolstering its presence in these key markets.

The newly recruited Manish Vyas, an experienced professional in the wealth management domain, will be operating out of Hong Kong. His extensive career includes significant stints at notable financial institutions such as Credit Suisse, Coutts, and ICICI Bank, as well as at Hong Kong-based wealth management firm Winland Wealth, led by former Coutts banker Keith Wong.

The hiring of Vyas comes amid a series of strategic recruitments and leadership changes at HSBC Global Private Banking. Lok Yim has recently been appointed as the new Asia CEO, transitioning from Deutsche Bank. This leadership shuffle follows Siew Meng Tan's decision to retire. Additionally, earlier in the year, Hemant Geriani joined from Standard Chartered Private Bank to oversee the global India business, a move that underscores the bank’s focus on this demographic.

HSBC's focus on Asia and particularly the NRI segment seems well-founded, given the bank's latest third-quarter earnings report. The report highlights that Asia contributed a substantial $42 billion in net new invested assets, constituting over half of the bank's global total of $67 billion. This growth trajectory underscores the region's significance to HSBC's global strategy.