Banking

HSBC hires six Credit Suisse bankers in global wealth push

British bank targeting wealthy families across oil-rich Middle East as well as Europe

HSBC: Bank is among a number of global banks building out their wealth-management operations as way to compensate for the more volatile earnings derived from dealmaking and trading. Picture: Getty

HSBC Holdings, the London-quartered bank, has hired half-a-dozen private bankers from Credit Suisse to build out its services targeting wealthy families across oil-rich Middle East as well as Europe.

The British lender named Aladdin Hangari, previously one of Credit Suisse’s top wealth-management executives for Qatar, as head of global private banking for the Middle East and North Africa, according to a statement Monday. Hangari is replacing Sobhi Tabbara, who is stepping back from January 2024 ...