–HSBC Asia Pacific hires include Tim Franks to head hedge fund sales
–New hires come as the UK-headquartered bank continues push in prime services
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HONG KONG–HSBC Holdings PLC
said Monday it has made nine senior appointments in its Asia Pacific equities and prime services units, including Tim Franks as head of hedge fund sales in Hong Kong.
The hires are part of the U.K.-headquartered bank’s push in prime services, the business of lending cash and securities to hedge funds and catering to their trading needs. Equities is mainly in sales and trading.
In the Asia Pacific region, HSBC’s prime services team has grown to around 40 people since 2010 and is led by Melvyn Ford, who was appointed head of prime services for the Asia Pacific region in May this year.
“HSBC has been responding to client needs by making a strategic investment in its Equities business in Asia since 2009 and we have been building Prime Services in the region since 2010,” said Rakesh Patel, head of equity sales and sales trading for the Asia Pacific region.
“We’ve achieved good traction already, but we’re continuing to invest in the development of these businesses because there’s a great opportunity to win more market share from clients who are looking for a highly-rated counterparty with a strong market presence.”
Mr. Franks was formerly head of hedge fund sales at Bank of China International in Hong Kong.
Other hires are Jeffrey Tan, as a director in Equity Sales from Nomura International; Eric Ang, as a director in equity sales trading, from Samsung Securities; Russell Jacobsen, as a director in equity sales trading, also from Samsung.
Outside Hong Kong, another hire is Edward Yen, as a director in Taiwan equity sales based in Taipei, who was previously at Goldman Sachs.
In prime services, Jean-Paul Linschoten joins as a director in prime services sales, based in Hong Kong and reporting to Matt Kiraly, head of prime services sales for Asia Pacific. Mr. Linschoten joins from UBS in New York. David Streatfield joins as a director in Equity Finance Delta One sales, based in Hong Kong and reports to Adam York, head of equity finance and Delta One sales for Asia Pacific. Mr. Streatfield was previously a Director in Delta One, synthetics, swaps and stock lending sales at Deutsche Bank, where he spent the past 10 years. Adrian Harrison joins as a director in prime services sales, and was previously head of investor relations at Keywise Capital Management.
Ted Langworthy joins as a director in Equity Finance Delta One sales, based in New York and reporting to Warren McCormick, head of equity finance and Delta One for the Americas. Mr. Langworthy was previously at Deutsche Bank Securities in New York.
A Delta One product is a derivative that allows access to hard-to-trade markets.
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