HSBC names new global private wealth chief

HSBC's private bank has named Christopher Marquis as its global head of private wealth solutions.

In his new role, which became effective January 1, Marquis is responsible for the bank's private wealth business around the world.

He will remain in Hong Kong and continue to report to Bernard Rennell, regional head of global private banking in Asia.

Previously, Rennell handled the bank's global private wealth solutions, a spokeswoman told FinanceAsia. Rennell will now focus on his regional private bank responsibilities, she said.

Before taking on the global role, Marquis was regional head of private wealth business in Asia. He oversaw 300 employees in Asia and was responsible for advisory solutions, relationship management, and administration services to protect and preserve wealth. He also ensured effective wealth transfer between generations, according to a statement.

Rennell will chair HSBC International Trustee, the holding company for the private wealth solutions business, and will also head the family governance and family enterprise succession group globally.

“We have had tremendous success with Private Wealth Solutions, and it remains a key driver of strategic growth for our private banking business and reinforces our position as a market leader globally,” Peter Boyles, chief executive of HSBC's private bank, said.

These internal moves come two weeks after an internal memo cited the departure of HSBC's Hong Kong CEO Anita Fung. Fung, a two-decade veteran at the bank, will pursue other opportunities outside the company.

Helen Wong, currently CEO and president of HSBC China, has been appointed CEO of Greater China, and will oversee the bank's business in mainland China, Hong Kong and Taiwan as of March 1. She reports to Peter Wong, deputy chairman and CEO of HSBC Asia Pacific.