HSBC Private Bank has reappointed Benjamin Pedley as regional head of investment strategy, based in Hong Kong. Further hires are imminent in what the bank says is a team buildout.
Pedley previously worked as North Asia investment strategist at the firm before departing last December for personal reasons to return to Australia.
He comes in to replace Arjuna Mahendran, who was formerly HSBC Private Bank's head of investment strategy for Asia based in Singapore. Mahendran left earlier this year, and last month joined Emirates NBD as chief investment officer for its wealth management division.
Pedley's remit spans HSBC Private Bank’s investment team across North and Southeast Asia from both Hong Kong and Singapore, sitting within the bank’s broader investment group.
Essentially the team focuses on filtering research ideas from within HSBC Group and developing them into investable concepts for high-net-worth investor portfolios. This will include theme-linked investments, such as how to capitalise on the urbanisation of Southeast Asian cities.
Pedley returns to work alongside James Cheo, an investment strategist based in Singapore. And a spokesperson for HSBC Private Bank confirms that more team additions are on the horizon.
“There will be more announcements in the not-too-distant future,” he tells AsianInvestor. “This is an area where we are putting a lot of emphasis, the frontline guys who take all the investment work that is done behind the scenes and turn it into an investable proposition.
“We want to develop this, taking more to clients and raising the profile of this investment area within the private bank. In a core and satellite portfolio approach, we advocate reviewing satellite strategies at any one time.”
Pedley reports to Olivier Pacton, regional head of HSBC Private Bank's investment group. “Ben Pedley’s appointment is part of our ongoing strategy to develop the capabilities and visibility of our investment group and to bring experienced professionals to our business.”
Prior to his time at HSBC, Pedley worked for LGT Bank in Hong Kong and Singapore as its regional head of advisory services. He has also worked for UBS Wealth Management and Macquarie Bank.
Earlier this year HSBC Private Bank announced it had appointed commercial banking specialist Teddy Kwong as business head for Hong Kong in an internal move, filling a long-held vacancy following the departure of Desmond Liu, as reported.
HSBC Private Bank had $398 billion in total client assets globally as at the end of last year. It does not break out its regional numbers.