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HSBC PB poaches JP Morgan’s NRI head

HSBC PB poaches JP Morgan’s NRI head

HSBC Private Bank has expanded its non-resident Indian (NRI) and international team with a new senior hire in Singapore.

Sundar Ramani has re-joined the private bank in a newly created role as NRI and international market head.

Ramani worked in HSBC Singapore previously, for about eight years overseeing the Malaysia market and South Asian segment regionally.

He left HSBC in 2010 to join JP Morgan, where he spent seven years. His last held position was global head of NRI markets.

In his new position, Ramani will be responsible for business development across the Europe, Middle East, and Australia markets along with the NRI segment. He will report to Philip Kunz, who is the head of South-east Asia for HSBC’s private bank.

‘Global economic and consumer growth is shifting to Asia, and the wealth is beginning to follow,’ said Kunz. ‘Singapore is emerging as a nexus for where regional and global wealth intersects making it strategically important for our Asia wealth business.

‘Ramani’s appointment demonstrates our intention to invest in people to strategically grow our business by further capturing these flows.’

This hire follows HSBC’s ambitious three-year plan to grow its presence and market share in Singapore including the intended hiring of more than 300 new employees.

Its Singapore strategy for growth is based around Asean’s growing infrastructure activity, and trade, investment and wealth flows.

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