HSBC has named Kanas Chan as the new head of global private banking for North Asia and Hong Kong, with her tenure commencing on 14 April 2025.
Chan, with three decades of experience in wealth management, will transition from Deutsche Bank to HSBC.
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As part of her new role, she will lead strategic growth initiatives and oversee the private bank’s performance across Hong Kong, Taiwan, and offshore mainland China markets.
Chan’s leadership is anticipated to further enhance HSBC’s global private banking business in Asia, which recorded double-digit year-on-year revenue growth in every quarter of 2024.
HSBC attributed the growth to a 21% increase in invested assets, reaching $199bn.
Chan will be based in Hong Kong and report to Lok Yim, regional head of global private banking, Asia Pacific, and Maggie Ng, head of wealth and personal banking, Hong Kong.
Yim said: “The wealth management industry in Hong Kong is brimming with opportunities as wealth in the region is expected to continue on a rapid growth trajectory.
“We are delighted that Kanas is joining HSBC Global Private Banking, bringing her substantial experience in client coverage and deep knowledge of investment products and markets. Her expertise will help us continue to spearhead the growth agenda in North Asia.”
Ng added: “Kanas brings extensive expertise in investment and wealth management, positioning her to effectively lead our high-performing teams in delivering tailored wealth solutions for our private banking clients. Her proven leadership will contribute to our mission to become Asia’s leading wealth manager.
“With her distinguished track record, she will help enhance the impact of HSBC’s global network and unparalleled expertise, supporting high-net-worth and ultra-high-net-worth individuals in growing and preserving their financial legacies for future generations.”
Chan began her tenure at Deutsche Bank in 2007, where she held multiple senior roles within the company’s wealth management division, most recently serving as head of North Asia for the private bank.
Before her most recent role, she led the capital markets business in wealth management for the Asia-Pacific region.
Prior to joining Deutsche Bank, Chan also held positions at Citi Private Bank and DBS Private Bank.
Recently, reports emerged that HSBC is reducing its workforce size at Pinnacle, its digital wealth business in China, by nearly half, affecting around 900 employees.
The downsizing will occur through layoffs, natural attrition, and reassignments within HSBC’s operations in China.
Pinnacle, established in 2020, offers insurance and investment products through a digital platform and had around 2,100 employees across its main divisions as of June 2024.
