HSBC Private Banking strengthens its leadership team in APAC

HSBC Private Banking has announced three key appointments in APAC. Firstly, it has expanded role of Cynthia Lee as Regional Head of private wealth solutions (PWS) for APAC. Lee would be based in Hong Kong.

While Lee’s role will focus on the larger region of APAC to build on PWS’s support for a growing number of HSBC Group-connected client, Steven Weekes will report to Lee and take over the role of Head of PWS for Southeast Asia from Michelle Lau.

Lau has been moved to a new role within HSBC Private Banking as Managing Director of ultra-high net worth (UHNW) and family office strategic services, Southeast Asia. Both, Weeks and Lau will be based in Singapore.

Lee has more than 20 years of experience in wealth advisory, with a focus on private clients and families. Before HSBC, she has worked with JP Morgan where she was most recently head of wealth advisory for Asia. Lee joined HSBC in January 2019 as Head of PWS for North Asia.

Weekes, who would be a core part of Lee's team, joined HSBC after spending 23 years at Citi Private Bank.

At Citi he was working as the Head of international fiduciary services and was based in Zurich, Switzerland, leading a global team. He has also been Citi’s regional trust head for Asia and been responsible for wealth planning for private banking clients in Asia. His focus has been on next-generation and wealth transfer planning. Besides Citi, Weekes has also worked with KPMG.

As HSBC aims to significantly expand its Asian private banking business over the next five years, including PWS, Lee and Weekes have to lead their team towards more business and growth. Besides expanding their business, they also have to invest in building strong teams that will help them achieve their business goals. While Lee and Weekes focus on PWS, Lau will work towards driving further development in Southeast Asia of HSBC Private Banking’s UHNW proposition, services for family offices, and global connectivity.

It would be interesting to follow how these three newly appointed leaders will spearhead HSBC towards its next phase of growth amid a global economic crisis.

Image Credits: The National