HSBC has taken the decisive step to launch its prime broking services in Asia-Pacific, with the ultimate aim of grabbing a significant chunk of market share. The service kicks off in Hong Kong this week and targets hedge fund managers based in the city as well as in Singapore and the China mainland.
The bank has taken on board at least eight people from rival firms. New hires include Laurence Denvir, previously with Goldman Sachs; Mylene Pelandre and Vera Yu, for client servicing, formerly from Bank of America Merrill Lynch; Richard Rouse for client servicing from Credit Suisse, and Darrin Wong, for sales, from UBS.
Denvir is joining the HSBC team in August as head of client service and integration while Brad Moreland from Bank...
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