HSBC Private Bank has united its alternatives desk and discretionary funds business to create an expanded role for Henry Lee following the retirement of Jeanie Yuen at the end of last month, AsianInvestor has learned.

Lee had been serving as head of the bank's alternative investment group for Asia Pacific since November 2012, according to his LinkedIn profile.

Prior to that he was head of portfolio management at HSBC Alternative Investments in the UK. He joined HSBC Private Bank in July 2007.

In May, Lee was reported in the media as saying HSBC Private Bank was eyeing early-stage hedge fund investments across Asia.

HSBC has confirmed that Yuen retired on June 30. A senior industry source notes that she was one of the few remaining senior figures in the team managed by the private bank's former Asia chief executive Monica Wong.

In June 2009, Yuen’s role as head of the bank’s strategic investment solutions platform and its discretionary multi-manager investment platform was extended to include discretionary business for Asia.

Wong retired in December 2010 after 27 years with the bank. Following her departure, HSBC appointed new regional leadership teams in Asia and Europe, the Middle East and Africa (Emea).

HSBC spokespeople declined to give further comment on Lee's expanded role.