HSBC named the chief executive of its private banking unit

HSBC named the chief executive of its private banking unit

The bank names Annabel Spring as its chief executive of global private banking, according to a statement, effective immediately. In her London-based role, Spring reports to Charlie Nunn, chief executive of the $1.4 trillion wealth and personal banking (WPB) unit.

Prior to joining HSBC in 2019 as its WPB’s group head of customers and products, Spring spent nine years at the Commonwealth Bank of Australia, last as its group executive for wealth management. Pervasively, she also held senior roles at Morgan Stanley, including global head of firm strategy and execution, in New York, Hong Kong and Sydney.

HSBC Private Banking currently has $353 billion in assets under management including $5.3 billion of net new money in the first half of 2020.

Spring last role as WPB’s group head of customers and products will be absorbed by Taylan Turan, in addition to his existing role as group head of strategy and WPB chief of staff. In his expanded role, Turan has been named group head of customers, products and strategy, reporting also to Nunn.

Turan has been with HSBC for 11 years in various senior roles including regional head of WPB Europe and globe head of investments, insurance and international. Prior to joining HSBC, he had worked with the likes of Citigroup and Barclays covering Turkey, Russia, the Middle East, Africa and Asia.

«[Spring] and [Turan] will play an important role in accelerating the growth of our business as we continue to invest in our customer offering, technology and products,» Nunn said. «As we operate in some of the fastest-growing wealth markets in the world, global private banking, a business with tremendous growth potential, is central to this ambition.»

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