HSBC Private Banking has announced the expanded role of Cynthia Lee, appointed as regional head of Private Wealth Solutions (PWS), Asia-Pacific, and the appointment of Steven Weekes as head of Private Wealth Solutions (PWS), South East Asia.
In order to build on Private Wealth Solutions’ comprehensive regional support for a growing number of HSBC Group-connected clients, Lee takes on an expanded role to cover Asia-Pacific. The change means PWS’ structure will mirror that of Private Banking, the largest contributor of referrals for the business. Lee will continue to report to Alan Beattie, global head of Private Wealth Solutions.
Lee joined HSBC as head of PWS, North Asia, in January 2019. She was formerly at JP Morgan where she was most recently head of Wealth Advisory for Asia. She has over 20 years of wealth advisory experience, focusing on private clients and families.
Weekes joins HSBC after 23 years at Citi Private Bank. Most recently, Weekes was head of International Fiduciary Services based in Zurich, Switzerland, leading a global team of professionals with responsibility for international trust companies in the Bahamas, the Cayman Islands, Jersey, Singapore and Switzerland.
Prior to this, Weekes was the regional trust head for Asia, responsible for the delivery of wealth planning to private banking clients in Asia with a strong focus on Next Gen and Wealth Transfer Planning. Weekes has also held other trust, private banking and business advisory roles at Citi and KPMG in Switzerland and Australia.
Weekes will be based in Singapore, reporting to Cynthia Lee, regional head of Private Wealth Solutions, Asia-Pacific. He takes over from Michelle Lau, who has been appointed to a new role within HSBC Private Banking as managing director, Ultra High Net Worth and Family Office Strategic Services, South East Asia. In her new position, Lau will drive further development in South East Asia of HSBC Private Banking’s UHNW proposition, services for family offices, and global connectivity.
HSBC is aiming to significantly expand its Asian private banking business over the next five years, including Private Wealth Solutions, and with a key focus on Greater China and the ASEAN region.