HSBC Appoints Gautam Anand From UBS To Serve India's Affluent Diaspora
HSBC Holdings Plc has recruited Gautam Anand, a senior private banking executive formerly with UBS Group AG, to serve as the Global Coordinator for Global India, the Middle East, North Africa and Europe, starting from 1 December. This move is in line with HSBC's strategy to expand Singapore as an international wealth hub, aiming to become Asia's leading wealth manager.
The appointment of Anand is expected to enhance the bank's capacity to cater to clients across various markets, supporting its growth objectives. The confirmation of Anand's appointment was made by a HSBC spokesman in Hong Kong, aligning with the internal memo seen by a media house.
Gautam Anand previously led a team at UBS Group AG that served wealthy Indians living abroad. His transition to HSBC follows his tenure at UBS from January to August, during which he departed amid disruptions caused by the Swiss lender's acquisition of Credit Suisse. Before UBS, Anand spent nearly a decade as a team head for non-resident Indians at Credit Suisse.
India's rapid economic growth has attracted attention from global and regional financial firms like HSBC and UBS, seeking to enhance financial services for the affluent. Analysts project that India's expanding wealth management industry could reach a value of USD 5.5 trillion by 2025, according to a media report.
