The bank poaches from rivals to strengthen its nascent prime broking franchise and its regional equities team.
William Egan joins as head of mandate sales for prime services in Asia, with more hires expected. He was Barclays’ head of FX prime brokerage and OTC clearing in Singapore.
The bank's niche fixed income and FX-focused platform will target macro, fixed income and foreign exchange hedge funds.
The newly created role signifies the UK bank's push into the crowded Asian prime brokerage market.
Built upon the bank’s custody and fund admin business, HSBC’s fledgling prime brokerage platform will expand to the US after roll-outs in Europe and Asia.
After an aggressive expansion of its prime services network in the region, Barclays is transforming from its beginnings in synthetic prime brokerage to a full-service offering.