The bank has named a longstanding executive as its head of securities services in Singapore, as part of its strategy to capitalize on Singapore’s position as a global-Asia Pacific fund gateway for institutional wealth.
Noor Adhami, currently based in the United Arab Emirates as HSBC’s regional head of global liquidity and cash management and securities services, MENA and Turkey, will take on the new role from 1 February 2021, the bank announced on Tuesday in a statement.
Adhami joined HSBC in 2004 and has held a variety of roles in Jordan and Dubai. In her new role, she will report to Brian Godins, Asia Pacific head of securities services and Gavin Powell, Singapore head of markets and securities services.
Singapore is increasingly becoming a prime international wealth and investment center, Powell said, noting that Adhami’s experience will deepen the bank’s expertise in the Republic and enable it to better support its clients.
HSBC has been progressively building out its wholesale banking capabilities in Singapore, which includes the launch of a new coverage division focusing on mid-sized non-bank financial institutions.
In the past year, the securities services division has also launched Asia’s first digital bond issuance alongside Singapore Exchange and Temasek. It was also part of the first interest rate swap trade by an overseas institutional investor through the central counterparty clearing model in the China Interbank Market, and was a securities services provider for the first ETF launched under the Singapore Variable Capital Company structure.
