HSBC Appoints Private Banking Product Head
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HSBC Private Banking named a new global head of products, investment, and collaboration based in Hong Kong.
Lavanya Chari joins from Deutsche Bank in Singapore where she was last its global head of products and solutions for private banking.
According to an HSBC statement, Chari will lead HSBC’s product strategy serving both private banking and personal banking client needs, effective July 20. Chari will report to Annabel Spring, head of Customers and products for the wealth and personal banking unit as well as the CEO of HSBC Private Banking.
Chari joined Deutsche Bank in 2002 and had since held various senior roles across its wealth amendment and global markets business. Previously, she also ran other businesses such as Asia structured investment solutions, global commodities asset structuring globally, and rates asset structuring for Europe.
Chari will be charged to cover a full continuum of clients across HSBC’s banking segments from personal banking all the way to family offices, according to a recent comment by regional head of wealth and personal banking Greg Hinston, who placed extra emphasis on the latter segment.
The newly merged unit, with a combined $1.4 trillion in assets, will look to target markets where it has scale – Britain, Hong Kong, and Mexico – with a focus on mortgages, wealth, and issuance products, and unsecured lending.
Questions & Answers
Q.What will be Lavanya Chari's primary responsibility at HSBC?
What will be Lavanya Chari's primary responsibility at HSBC?
Lavanya Chari will be responsible for leading HSBC’s product strategy. This includes serving the needs of both private banking and personal banking clients across the company's various banking segments, from personal banking to family offices.
Q.Who will Lavanya Chari report to in her new role?
Who will Lavanya Chari report to in her new role?
Lavanya Chari will report to two individuals. She will report to Annabel Spring, who is the head of Customers and products for the wealth and personal banking unit, and also the CEO of HSBC Private Banking.
Q.Which specific markets will the newly merged unit focus on?
Which specific markets will the newly merged unit focus on?
The newly merged unit, with its significant assets, will concentrate its efforts on markets where it already possesses considerable scale. These key markets are Britain, Hong Kong, and Mexico, with a focus on specific product types.
Q.What product areas will the combined unit prioritise in its target markets?
What product areas will the combined unit prioritise in its target markets?
In its target markets, the combined unit will prioritise several key product areas. These include mortgages, various wealth products, issuance products, and also unsecured lending. This aligns with its strategy where it has scale.
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