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HSBC Private Banking Intensifies UHNW Focus

Tom Burroughes, Group Editor , London, 14 April 2020

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The appointment adds to a recent run of senior moves and developments within the group's private banking and wealth management businesses, following a restructuring.

HSBC Private Banking has named former senior Deutsche Bank figure Caroline Kitidis as head of its ultra-high net worth business for the US and the Europe, Middle East and Africa market segments.

The role is a newly-formed one and is part of a “broader push” by HSBC to expand its UHNW business, it said in a statement yesterday. Kitidis, who joins today, will be based in London and report to Chris Allen, regional head of EMEA, HSBC Private Banking.

Kitidis has more than 20 years’ experience in wealth management and investment banking. She has worked across the Americas and Europe at Deutsche Bank, where headed up the European institutional wealth partners group, and Goldman Sachs.

The banking group has made a number of wealth-related appointments and product launches in recent days. For example, in Asia it appointed one of its own senior figures, Greg Hingston, as the Asia-Pacific region head of the newly-formed wealth and personal banking segment created in the lender’s recent organisation overhaul. The Hong Kong/London-listed group has merged its retail banking, wealth management and global private banking arms to form a $1.4 trillion business. WPB covers private wealth from retail clients to ultra-high net worth individuals.

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