HSBC is already an overwhelmingly Asia-focused bank – last year it made almost 90% of its profits from the region. The firm now wants to “accelerate growth” from its Asia franchise as its number one strategic priority over the next few years.
If you’re considering applying for a job at HSBC in Hong Kong or Singapore in 2019, you’ll want to know about the senior managers in the two cities who currently run some of the bank’s more expansionist departments. Here’s a selection.
Patrick Wong, head of China sales and business development
Wong is based at Hong Kong in Hong Kong, but is a key player in helping the firm realise its lofty ambitions in China. The bank’s revenue was up 31% in its key Pearl River Delta market last year, and it’s aiming for further growth. Wong, who made MD earlier this year, is responsible for China sales strategy in asset servicing globally, including inbound investment schemes (e.g. Stock Connect and Bond Connect), outbound investment to overseas markets, and onshore investment in China. He joined the bank back in 2001, according to his online profile.
Siew Meng Tan, regional head of HSBC Private Banking, Asia Pacific
Tan has a lot of hiring on her hands after HSBC announced in September that it wants to add 650 new staff (including relationship managers) in Asian private banking by 2022, mainly in Hong Kong and Singapore. Last year the private bank hired 71 “revenue generating employees” in Asia, according to HSBC’s earnings report. Tan took on her current role in January 2017 having previously been regional head of global trade and receivables finance within commercial banking.
Gabriel Tam, regional head of ultra high net worth (UHNW) solutions, Asia
UHNW, which serves clients who have assets of about $30m or more, is the newest team within HSBC’s expanding Asian private bank. Tam (alongside head of segment management Erik Bergqvist) became the unit’s first senior recruit when he joined in November last year. Now Tam and Bergqvist want to hire more relationship managers in Hong Kong and Singapore and are targeting those already looking after mega rich clients at the likes of JP Morgan and UBS.
Mukhtar Hussain, head of Belt and Road Initiative (BRI), Asia Pacific
In its 2018 results, HSBC reiterates that BRI is one of its “strategic priorities” as it aims to be the number-one international bank for BRI business by the end of 2020. On this basis alone, Hussain is an important person to get to know. Perhaps more importantly if you’re based in Singapore, Hussain was also appointed as director and chairman of HSBC (Singapore) in October last year.
Rohit Joshi, head of global payments and cash
Transaction banking is a key income stream at HSBC – revenue in global liquidity and cash management was $1.0bn in 2018, up 22% year on year. If you want a stable job in bread-and-butter banking at HSBC in Asia, Singapore-based Joshi is an ideal man to know. In August this year Joshi will celebrate his 20th anniversary with HSBC – he’s also worked in senior roles in India, Mauritius and Hong Kong during that time, according to his profile.
Vina Cheung, global head of RMB internationalisation
HSBC continues to benefit from the ongoing internationalisation of the Chinese currency. It ranked first for best overall RMB products and services in Asiamoney’s RMB survey last year. Hong Kong-based Cheung has been at the heart of the bank’s RMB business since she joined in 2013 from BNY Mellon. This is her second stint at HSBC, having worked in the global payments and cash management team from 2001 to 2008. In June 2018, Cheung also took on the role of head of product management for North Asia.
Dmitry Avramenko, chief technology officer, Payme
As we reported last month, Avramenko has just stepped into one of the most high-profile and pressurised technology jobs at HSBC. The PayMe e-wallet was only launched in February 2017 but it already has 1.5m users from a total Hong Kong population of only 7.5m. Avramenko joined HSBC in Hong Kong from Standard Chartered in Singapore, where he was head of cloud architecture and infrastructure for two and a half years.
Angie Zeng, co-head of China financial institutions group
FIG is continually a buoyant industry within Asian investment banking, and Zeng is one of the FIG sector’s leading regional bankers. She joined HSBC five years ago and is responsible for Chinese financial clients across ECM, DCM, M&A and leveraged financing. After starting her career at Deloitte in San Francisco in 1999, Zeng relocated to Hong Kong with J.P. Morgan in 2004. She then worked for Morgan Stanley from 2008 to 2013, reaching executive director rank.
Sara Edmonston, head of Asia operations
A lynchpin of HSBC’s huge operations team across Asia, Edmonston is also the COO of HSBC global banking and markets in the region and has been in her jobs since 2016. The back-office veteran ran fixed income operations at RBS global banking and markets from 2002 to 2006, before becoming head of Asia Pacific operations in the same department.
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