HSBC has announced a string of new chief investment officers to the wealth and personal banking division across all regions, in attempts to expand its wealth management franchise established last year.

Overseeing the new hires, Xian Chan has been appointed as the new chief investment officer of wealth management, and global head of research and insights for wealth & global private banking.

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Leading regional investment strategy teams, the following regional CIOs will align with the firm’s global structure to develop an integrated investment process across the entire wealth division:

Fan Cheuk Wan: chief investment officer, Asia, private banking and wealth management

Patrick Ho: chief investment officer, North Asia, private banking and wealth management

James Cheo: chief investment officer, Southeast Asia, private banking and wealth management

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Jonathan Sparks: chief investment officer, UK & CI, private banking and wealth management

Belal Khan: chief investment officer, MENA and Europe International, private banking and wealth management

Jose Rasco: chief investment officer, Americas, private banking and wealth management

Working under Willem Sels – global CIO, private banking, and wealth management – Chan is expected to work alongside the regional CIOs to develop a research strategy for the private banking and wealth client segments.

He will also lead the delivery of the HSBC’s house view in wealth, ensuring optimum investment outcomes for clients.

Commenting on the series of hires, Sels said: “I’m excited to work with Xian and the regional CIOs to further enhance the value of our single house view for our wealth clients.

“Our set-up alongside wealth segments and regional lines will allow us to tap into the expertise of the entire business, while offering relevant views and tailoring solutions to each wealth segment and region.”

HSBC private banking and wealth management was established following the decision to combine retail banking and wealth management, asset management, insurance, and private banking, rendering the firm as one of the world’s largest global wealth managers with over US$1.6 trillion in wealth balances at the end 2020.

Within the division, global private banking, which operates as a distinct business unit and brand, grew its client assets to $394bn, reaching $6.4bn of net new money in 2020.