New Delhi — In a strategic move, HSBC Holdings has enlisted the expertise of Gautam Anand, a seasoned UBS Group banker, as the global coordinator for affluent Indian clients across the Middle East, North Africa, and Europe. An internal memo revealed this development on Tuesday, citing Anand’s extensive 25-year experience in the private banking industry.

Anand, instrumental in expanding UBS’ South Asian and global Indian client network across Asia, is poised to take on his new role at HSBC starting December 1. The bank’s spokesperson verified the details outlined in the internal memo.

Tommy Leung, HSBC’s private banking head for South Asia, emphasized the bank’s commitment to growing Singapore as an international wealth hub. He stated that Anand’s appointment aligns with HSBC’s ambition to become Asia’s leading wealth manager, bolstering their private banking business.

Gautam Anand had joined UBS in January, predating the Swiss lender’s acquisition of Credit Suisse in March, as indicated by his LinkedIn profile. Before his tenure at UBS, Anand spent nearly a decade with Credit Suisse, serving as a managing director and team leader at the lender’s non-resident Indian business desk in Singapore until his departure last year.