HSBC beefs up investments and wealth solutions team with Endowus, UBS hires

HSBC has beefed up its investments and wealth solutions team with two recent senior executive appointments, the bank said in a statement on Wednesday (Jan 12).

Tan Wei Mei, most recently the chief advisory officer at digital wealth advisor Endowus, has been appointed as the division's global and Asia head of advisory. Former UBS executive Michael Wong, the other appointee, is now HSBC's regional head of the ultra-high net worth solutions group.

Tan is based in Singapore, and Wong, in Hong Kong.

HSBC said both roles are effective immediately. The pair report to Stefan Lecher, the bank's regional head of investments and wealth solutions for the Asia-Pacific.

Wong, who was part of UBS' global family office team, where he held various roles over a decade, will also report to Patrick Boumalham, the global head of HSBC's ultra-high net worth solutions group on a functional basis, it added.

With the appointments, Lecher said he is confident that HSBC will leverage the duo's experiences and expertise to "deliver at pace".

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The bank is "committed to providing best-in-class capabilities to serve the whole wealth continuum across wealth and personal banking, with actionable insights and solutions", he said.

"Having unified advisory services and unique ultra-high net worth propositions is of critical importance to the success of our Asian wealth strategy," he added.

Before joining Endowus, Tan was managing director and global co-head for advisory and investment solutions at Deutsche Bank Wealth Management. She had also held roles at Credit Suisse and UBS.

At the various banks, she had led portfolio-solutions business units to focus on building recurring revenues, and helped transform the investment platforms to engage clients digitally.

She comes with over 20 years of experience across private banking, investment banking, asset management and fintech, HSBC said.

Wong also brings with him over 20 years of experience in the banking sector. HSBC said he started his career with Merrill Lynch in equity derivatives sales covering hedge funds, pension funds, central banks, private banks and retail banks.

At UBS, he had held roles in derivatives, capital markets and investment consulting covering the ultra-high net worth, family offices and listed companies, it added.