HSBC has hired a team from DWS, including its former head of retail distribution Andy Clark, and will introduce a RateBuster-style cash-plus product into its range, it said. It plans to use the structured products expertise of French sister company Sinopia, according to recent press reports. There is no timetable for the launch, or for other new products in the range.
Clark will have responsibility for all HSBC’s non-tied retail business.“It's excellent news for HSBC to have Andy at the helm of our retail presence, which will boost our business, distribution and service capabilities significantly,” said director Chris Taylor, who is responsible for UK distribution of structured products.
“Clearly the strengthened team is positive for us on the structured products side, and will provide scope for us to expand our plans,” he said.HSBC Investments’ first structured product under the new brand goes live on 7 November.
