People Moves
HSBC Private Banks Taps Citigroup for US Head, Tries New Strategy
HSBC Private Bank has hired Marlon Young to lead its US expansion efforts. Mr Young joins from Citigroup, where he was head of private clien...
HSBC Private Bank has hired Marlon Young to lead its US expansion efforts. Mr Young joins from Citigroup, where he was head of private client lending at Smith Barney.
WealthBriefing was not able to establish at the time of writing who Mr Young has replaced, although the position is likely to be a new one.
Gerard Aquilina, the head of the Americas for the private bank, was given the job of running both the domestic and international business in the US in late 2003 after the departure of Leslie Bains, the then head of domestic private banking in the US at HSBC.
The appointment of Mr Young would appear to be a reversal of that strategy, and may suggest a splitting of Mr Aquilina’s responsibilities.
