HSBC has appointed Jackie Mau as head of global private banking for mainland China, effective from August 1. He will focus on building products, platforms and service capabilities to grow the bank’s market share and expand its presence in the world's second biggest wealth market.
Based in Shanghai, Mau will report to Richard Li, executive vice president and head of wealth and personal banking on an entity basis and functionally to Siew Meng Tan, regional head of global private banking in Asia.
Mau has more than 20 years of experience in the financial industry, holding a variety of frontline and management roles in global banking and markets in Hong Kong, Southern China and Thailand. He re-joined HSBC in 2016 as part of the global private banking team. In his current role as the regional head of the ultra high net worth (UHNW) team, Mau has successfully designed a UHNW strategy for HSBC private banking in Asia, driving strong business growth and improved client connectivity for this important segment.
According to the latest research by HSBC, the total wealth of Chinese households is likely grow by more than 50% in the next five years. The number of HNW individuals is also expected to rise to five million by 2025, from the current two million count. The bank plans to expand its presence to 10 cities in mainland China in the next five years.
