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HSBC appoints new group head of wealth management

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HSBC has named Simon Williams as the group head of wealth management, effective July 11, 2011. In this new role, which will be based in Hong Kong, Williams will be responsible for leading the development of retail wealth management business capabilities in key markets for the HSBC Group.

Williams will report to Paul Thurston, HSBC’s CEO, Retail Banking and Wealth Management (RBWM) and joins HSBC from Camelot Financial Capital Management LLC which Mr Williams founded in 2007. He has a track record in strategy development and execution, and in delivering growth in retail banking and wealth management businesses internationally. Between 1997 and 2006, he played a key role in the development of Citigroup’s consumer banking business, heading up their retail and wealth franchise outside of North America, leading the repositioning of their business in Asia and Latin America, and as a member of the Citigroup Management Committee.

Prior to that Williams spent four years at GE Capital in the US and Europe, and his experience also includes senior roles with Apax Ventures, Bain & Co, and with Price Waterhouse.

Paul Thurston, CEO of RBWM says: "HSBC has a significant opportunity to build on our established retail banking capabilities in many of the markets in which we have sizeable presences and to become the chosen provider of wealth management services to our retail customers. Simon brings to HSBC a breadth of business and international experience, in both emerging and developed markets, which will help us build on our existing strengths, and deliver world-class wealth management solutions for our customers."

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