Private Banks

HSBC Private Banking announces Asia Pacific COO

HSBC has announced the appointment of Sharon Oh as Chief Operating Officer (COO), HSBC Private Banking Asia Pacific, starting as of May 20th 2020.

As HSBC looks to considerably grow its Private Banking business in Asia, Oh will be instrumental in helping to drive further improvements for our clients and colleagues, according to a press release by HSBC. She will lead the regional COO teams to deliver several key transformation initiatives in 2020 and 2021 including a new core banking platform and further enhanced Digital offerings.

Oh joins HSBC from JPMorgan and brings with her a wealth of experience in successfully delivering transformation projects in large-scale wealth businesses. At JPMorgan’s private banking unit, Oh was most recently Chief of Staff in the Global Institutional Client Segment based in London. Prior to this, Oh spent five years as the COO for JPMorgan Private Bank Asia Pacific based in Hong Kong, and was previously the COO for North Asia at Credit Suisse.

Siew Meng Tan, Regional Head, Asia Pacific, HSBC Private Banking, said “We are delighted to have found a candidate of Sharon’s calibre to help us deliver on our Asia Wealth ambitions. Following a very strong performance in 2019, and now as part of HSBC’s new Wealth and Personal Banking (WPB) unit, we continue to invest in our Asian business to deliver the best private banking offering for our clients globally. Sharon will help us to accelerate the delivery of our key initiatives and to harness the benefits of becoming part of WPB.”

In February 2020, HSBC announced the merging of the Group’s Retail Banking and Wealth Management and Global Private Banking units to form a USD1.4 trillion business under the name of Wealth and Personal Banking. As a distinct unit in WPB, Private Banking continues to invest in its Asia team with top quality talent from the market to support the ambition of double-digit growth in client assets and revenue in Asia over the next few years.

Oh replaces Gaurav Rao, who recently relocated to London to take up a new role within HSBC Private Banking. Oh will report to Siew Meng Tan and Anil Venuturupalli, Global COO, HSBC Private Banking.