HSBC has gained a new head of Asian equity sales in New York. Benedict Perez joins from SG Cowen where he was managing director, head of Asian equity sales and trading. Before that he worked as ING's New York-based head of Southeast Asian equity sales.

Perez has spent 10 years in equity sales in the US.

HSBC will be hoping that Perez's hire will coincide with a rebalancing of US portfolios into Asia. This trend could be aided by the fact that US and European economies look likely to grow at a slower pace than Asia as the world emerges from the Iraq war.