HSBC appoints Boumalham as global head of wealth sales

HONG KONG HSBC has appointed Patrick Boumalham as its new global head of wealth sales within its markets division, effective September, according to an internal memo seen by the company, and confirmed by a company spokeswoman.

He replaces Antony Shaw, HSBC's global head of wealth sales who was named CEO of HSBC Australia two weeks ago.

The move will expand Boumalham's current responsibilities as head of wealth sales for Asia Pacific at the bank, and he will be based in Singapore.

He will report to Allgra Berman, global head of institutional sales co-head of securities services, and to Sridhar Narayan, Head of Markets Securities Services, ASEAN.

The bank has promoted its current co-head of Credit Sales in Asia Pacific Wan Sze Loh to lead institutional sales for the Asia Pacific region, which was also effective in September, according to the memo.

Loh will be based in Hong Kong and report to Berman and Monish Tahilramani, global head of emerging markets, Japan Australia at the bank's markets securities services.