The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
The wealth management sales team designs structured products which the bank sells to its retail and private banking clients. The products can be in the form of structured notes, capital guaranteed funds, structured deposits and yield enhancement equity-linked notes. The team also specialises in tax, regulatory and compliance issues.
According to an HSBC spokesperson, wealth management sales is expanding and the bank is restructuring and adding new positions to strengthen this business in the Asia-Pacific region.
Hung has extensive experience in wealth management and structured products. In this newly created position he will be responsible for managing the intermediaries business for Greater China and Korea, and will focus particularly on expanding HSBCÆs franchise and third-party retail distribution channels.
Hung will be based in Hong Kong and will report to Ken Sue, managing director and head of wealth management sales, Asia-Pacific.
ôThe appointment of Gary demonstrates our dedication to building a leading platform for our wealth management business in the region. His expertise will be a tremendous asset for HSBC and will enhance our ability to deliver value-added solutions and products to our clients,ö says Sue in a written statement.
Record low borrowing costs in Australia are feeding demand for the country's real estate, with domestic and global investors raising their allocations into the sector.
Experts have a diversified view on the appeal of private assets across the region, but one thing's for certain - inflows are rising, particularly into China and the US.
Malaysia's Armed Forces Fund hires new CEO; Canada's Omers appoints Asia capital markets managing director; HSBC Asset Management creates alternatives unit, appoints CIO as its head; Bank of Singapore names global wealth head; Aware Super hires IFA head; Hong Kong names acting head for MPFA; Schroders adding to Asia ESG headcount; and more.
Asian fixed income assets – including Hong Kong dollar (HKD) bonds – are luring growing numbers of global investors who are striving for reliable and consistent returns amid macro uncertainty compounded by rising inflation and rates, according to HSBC Asset Management.