HSBC’s Private Bank Plans Zurich Hires as Part of Wealth Push
- Unit plans front-office hires to attract Asian, German assets
- More than 100 support staff will be relocated from Switzerland
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HSBC Holdings Plc’s Swiss private bank plans to add two teams in Zurich as the lender looks to expand its client-facing operations even as it moves some support staff to cheaper jurisdictions.
Switzerland remains a key hub for its wealth business and while it plans to move more than 100 support staff out of the country, it will hire front-office roles in Zurich to manage assets from Asia-based clients as well as Germany, Alex Classen, chief executive officer of HSBC’s Swiss private bank, said Monday.