HSBC Securities Services has boosted its Asia Pacific client management group with three new appointments, as well as a new head of product development for its global sub-custody and clearing business.
Khalid Salim and Hazel Lai have both been appointed senior vice president, sales and relationship management, Asia Pacific. Based in Hong Kong, Salim and Lai will serve global custodian banks and broker-dealer clients.
Salim joins from Deutsche Bank and has over 12 years of experience in the securities services industry in Europe and the Middle East. Lai joins from HSBC payments and cash management.
In addition, Sue Shim has been appointed senior vice president, sales and relationship management, Asia Pacific. Based in Hong Kong, Shim is responsible for serving sovereign wealth funds as well as South Korean financial institutions. Shim joins from Citibank and has over 13 years of experience in the securities services industry in South Korea and Hong Kong.
The company also appointed Nico Torchetti as head of product development for its global sub-custody and clearing business. Based in Hong Kong, Torchetti is responsible for the continued expansion of the sub-custody and clearing product suite with a specific focus on broker-dealer outsourcing.
Torchetti has over 15 years of experience in the securities and derivatives industry. He joins from Deutsche Bank where he was the head of direct securities services, Hong Kong, and head of broker dealer coverage, Asia, responsible for the development and launch of its third party clearing and account operator capabilities. Prior to joining Deutsche Bank, he was with Fortis Clearing, a division of France’s BNP Paribas, and French bank Credit Agricole Indosuez.
HSCBC Securities Services currently provides third-party clearing in Hong Kong and account operator services in Australia, Greece, Hong Kong, India, Mexico, Singapore, the United Arab Emirates and the UK. The division has US$5.8 trillion assets under custody and US$2.6 trillion under administration as at 30 June 2011. HSBC extended its back-office securities outsourcing service to Australia, in April 2011.