In a strategic move to enhance its private banking operations, HSBC has announced the appointment of Kanas Chan as the head of Global Private Banking for North Asia and Hong Kong. This leadership change aims to further propel growth across key markets including Hong Kong, Taiwan, and offshore mainland China. The bank’s private banking arm has experienced significant success in Asia, achieving record profits in 2024 with robust revenue growth driven by an impressive increase in invested assets.

Kanas Chan brings extensive experience in wealth management, having held various senior roles at Deutsche Bank since 2007. Her expertise will be instrumental in driving the continued expansion of HSBC's private banking services in the region. Reporting to senior executives within HSBC, Chan is set to play a pivotal role in shaping the future of wealth management in North Asia.

Driving Growth Across Key Markets

HSBC’s decision to appoint Kanas Chan reflects its commitment to strengthening its presence in North Asia. With her extensive background in private banking and wealth management, Chan is expected to implement strategies that drive growth priorities and improve performance in Hong Kong, Taiwan, and offshore mainland China markets. Her responsibilities include enhancing client engagement, expanding service offerings, and ensuring sustainable financial outcomes.

Chan’s appointment comes at a time when HSBC’s Global Private Banking business in Asia has achieved remarkable milestones. In 2024, the division recorded unprecedented profits, supported by double-digit quarterly revenue growth throughout the year. A 21% rise in invested assets contributed significantly to this success, reaching $199 billion. By leveraging these achievements, Chan will focus on scaling up operations while maintaining high standards of customer satisfaction and operational efficiency. She will also prioritize fostering partnerships with local institutions and clients to deepen market penetration.

A Wealth of Experience in Leadership Roles

Prior to joining HSBC, Kanas Chan established herself as a prominent figure in the wealth management industry through her tenure at Deutsche Bank. Since 2007, she has occupied numerous senior positions, most recently serving as the Head of North Asia for the private bank. Her previous roles included leading the capital markets business in Wealth Management across Asia Pacific, showcasing her versatility and adaptability in diverse financial environments.

Before her career at Deutsche Bank, Chan gained valuable experience working at Citi Private Bank and DBS Private Bank. These experiences have equipped her with a comprehensive understanding of global wealth management trends and regional nuances. As the new head of HSBC’s Global Private Banking division in North Asia and Hong Kong, Chan will draw upon her extensive network and proven track record to deliver innovative solutions tailored to the needs of affluent clients. Her ability to navigate complex financial landscapes ensures that HSBC remains competitive and forward-thinking in its approach to wealth management.