HSBC Private Banking has appointed Chan Eng Chien as its new head of ultra-high net worth (UHNW) solutions, Southeast Asia, HSBC Private Banking, the bank announced on April 11. This is the latest in a string of recent appointments in the UHNW teamin Singapore.

Kenneth Yeo, head of investment services and product solutions, Southeast Asia, HSBC Private Banking says, “Strategically, the newly created role underpins what UHNW clients come to expect: bespoke and tailored solutions because they understand the financial markets in a different way. That level of sophistication means their transactions tend to be more intricate which requires pulling in different kinds of specialists. With UHNW clients it’s a lot more custom-built so we are transforming how we deliver this proposition.”

Philip Kunz, head of private banking, Southeast Asia, HSBC Private Banking says, “We went out with a bold commitment to double headcount in five years. We’re making that pivot to growth by substantially investing in our bench strength attracting the best talent in the industry. More than ever, our HR team is fielding calls from candidates searching us out to be part of the team. Even internally we’re seeing staff increasingly transfer from other parts of HSBC into Private Banking.”

Eng Chien joins HSBC from an international bank where he was most recently head of Cross Assets Solutions, Southeast Asia and India, and responsible for institutional and corporate clients. His prior experience includes originating strategic opportunities, private financing and providing bespoke product solutions to investment banking and private banking clients over a total of 21 years. His appointment is effective immediately.