Patrick Boumalham has been appointed global head of markets products at HSBC Private Banking. Based in London, Boumalham will have responsibility for the bank's catalogue of capital markets solutions including derivatives and listed options, structured investments, foreign exchange and precious metals as part of its investment advisory and discretionary programmes, and services for self-directed investors. He will report to Stuart Parkinson (pictured), chief of staff, HSBC Private Banking.
In his new role, Boumalham will also cover the private bank's tailored private banking, investment and wealth management services to high-net-worth business owners, entrepreneurs, and senior executives.
Boumalham takes over his new responsibilities after 18 months in his previous role as head of investment solutions sales for private banking and retail at HSBC Global Banking and Markets in Paris where he covered clients in Switzerland, France, Luxembourg and Monaco.
Prior to that he was head of investment solutions sales for private banks, Switzerland, Benelux and Monaco, and he also was deputy head of equity derivatives sales for private banks, Europe, Middle East & Africa (EMEA) for over four years.
Boumalham's appointment comes on the back of the recent expansion of HSBC Private Banking (PB) Americas where the UK bank made four key hires to strengthen its investment management capabilities and product coverage for clients including Joe Abruzzo as head of private banking Americas; Vikram Singh who joined as regional structured product specialist with responsibility for structured products; Alex Catterick, as regional alternatives product specialist; Vincent Fontana also joins HSBC PB as regional fixed income product specialist; and Steve Simon, as regional head of credit advisory.
Most recently the UK bank announced a collaboration with MSCI to develop World Select SRI and Europe Select SRI Indices, which will be used by the UK bank to build a new range of structured products.
HSBC remains a leading issuer of structured products globally and has manufactured over 1,000 structured products worth $7.3bn in the first six months of 2017, of which 556 structured products have been marketed through its retail channel.
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