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HSBC Private Banking makes room for Deutsche veteran

HSBC Private Banking makes room for Deutsche veteran

HSBC Private Banking has made a senior hire, who brings close to 18 years of experience at Deutsche Bank.  

Lavanya Chari (pictured) has been appointed global head of products, investments and collaboration, effective 20 July.

This will see her leading HSBC’s private banking and wealth product strategy from Hong Kong, after spending some time in Singapore. 

She will also manage the global investment products team, that serves the needs of private and personal banking clients.

Chari joins HSBC from Deutsche Bank, where she has spent almost 18 years. She joined the bank in 2002 after completing an MBA at the Indian Institute of Management in Bangalore. 

In her early career, she was involved in running its European institutional rates structuring business. Then, she was named global head of commodities asset structuring in December 2009. 

In 2016, Chari was appointed head of global products and solutions for Asia Pacific at Deutsche Bank Wealth Management. She took on the role of global head three years later. 

HSBC said: ‘Chari brings deep experience of wealth products and structured investment solutions, and of working with a broad range of clients from retail distributors through to private banks and sovereign wealth funds. 

‘The appointment supports HSBC’s ambition to bring a broader range of wealth expertise to the full continuum of clients and customers across wealth and personal banking.’

In her new role, Chari will report to Annabel Spring, head of customers and products, wealth and personal banking.

She will also report to the CEO of HSBC Private Banking replacing António Simões, Citywire Asia understands. 

Simões, whose exit was widely reported in February, will join Spanish bank Santander as regional head of Europe on 1 September. His replacement has not been announced. 

The bank has seen other recent exits. It confirmed Singapore and Malaysia market head Shang-Wei Chow’s resignation last month. 

In a LinkedIn post, Chow likened his time at HSBC to being ‘on an express train that didn’t need to stop to refuel’.