| | MARCH 20249HSBC APPOINTS KERRI LIM AS HEAD OF ULTRA-HIGH NET WORTH SEGMENT IN ASIAAIIB AND BNDES PARTNER FOR SUSTAINABLE DEVELOPMENT IN ASIA AND LATIN AMERICAIN FOCUSHSBC Holdings has revealed key strategic appointments designed to enhance its private banking offerings, with a specific focus on catering to Ultra-High Net Worth (UHNW) individuals in Asia. In an official announcement, the banking titan disclosed the recruitment of Kerri Lim as the Head of UHNW for Asia, with her appointment slated to commence on March 11th.Bringing over twenty years of extensive expertise in finance and banking, Lim joins HSBC with a notable background, having formerly served as the Head of Business Development for Global Family Institutional Wealth at UBS in the Asia Pacific region. Based in Singapore, she will directly report to Caroline Kitidis, the Global Head of the UHNW segment, as well as Lavanya Chari, the Global Head of Investments and Wealth Solutions.Additionally, HSBC has designated Pritash Mathur, an experienced HSBC professional, as the Head of Family Office Coverage for Global India and Global South Asia (GSA), based in Singapore. Mathur's long-standing career with HSBC in Hong Kong and Singapore, notably his pivotal contribution to initiating the private banking business in India, highlights his depth of knowledge in the field. He will be under the supervision of Kerri Lim.The recent appointments highlight HSBC's dedication to strengthening its presence in the UHNW sector throughout Asia. Last year, the bank welcomed Edith Wong, previously of Credit Suisse, as the Head of the UHNW segment for North Asia and Sam Wong, formerly of Bank of Montreal, as the UHNW Segment Development Manager for Asia. Both individuals will be reporting to Kerri Lim. Caroline Kitidis, the Global Head of the UHNW Segment, emphasized the significance of addressing the unique requirements of ultra-high-net-worth clients, emphasizing the importance of expertise and insight in fostering enduring client relationships. The expansion of the Asia team underscores HSBC's commitment to meeting the varied and intricate demands of this discerning market segment. The Asian Infrastructure Investment Bank (AIIB) and the Banco Nacional de Desenvolvimento Econômico e Social (BNDES) have solidified their partnership through the signing of a Memorandum of Understanding (MOU). This accord is geared towards enhancing collaboration in funding sustainable development initiatives and fostering regional cooperation.AIIB's Vice President for Investment Operations (Region 2), Konstantin Limitovskiy, and BNDES's Managing Director, Natalia Dias, were the signatories to the MOU. Under this agreement, AIIB and BNDES will explore opportunities for co-financing and co-investment in various projects and programs related to infrastructure, trade, connectivity with Asia, climate, and other mutually beneficial areas. Additionally, both institutions will collaborate on project origination, resource mobilization, and knowledge exchange pertaining to strategies and policies aligned with the Sustainable Development Goals.Vice President Limitovskiy of AIIB expressed keen enthusiasm for formalizing the partnership with BNDES, stressing its significance in advancing sustainable development and economic growth across Asia, Latin America, and beyond. He underscored the potential of pooling together expertise and resources to tackle infrastructure challenges and propel economic advancement.President Aloizio Mercadante of BNDES highlighted Brazil's leadership in clean electricity among G20 nations and emphasized the significance of leveraging this advantage to attract new investments and enhance value across industrial and productive chains. He emphasized the partnership with AIIB as essential for exchanging knowledge, broadening opportunities, and promoting a more sustainable economy.Natalia Dias, Managing Director of BNDES, viewed the signing of the MOU as a notable achievement in their international funding strategy. She noted that it paves the way for collaboration with a leading global financial institution such as AIIB, enabling the combined utilization of resources for sustainable development projects in both Brazil and Asia.
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