MOVES-HSBC hires two new US regional heads for wealth and banking

Reuters06-25

NEW YORK, June 25 (Reuters) - HSBC's new U.S. Head of Wealth and Personal Banking, Racquel Oden, announced the hiring of two new regional market leaders on Tuesday.

Clark Pingree, a former First Republic and Wells Fargo executive, will lead HSBC's wealth and banking operations on the West Coast, based in San Francisco.

Dufresne 'Didi' Nicolas, formerly with Bank of America Merrill Lynch and Morgan Stanley, will head the North region, based in New York. Oden said the hires are part of HSBC's strategy to grow in wealth management in the U.S.

"Today's announcement is the first of several new exciting hires that we will be sharing in the coming weeks as we grow our wealth management and financial planning team," Oden said.

The new executives will report to the Americas Head of Global Private Banking and U.S. Wealth Mark Pittsey. HSBC sold its mass retail business in the U.S. three years ago and kept its wealth management operations, with around 300,000 clients.

(Reporting by Tatiana Bautzer; Editing by Janane Venkatraman )

((tatiana.bautzer@tr.com; Mob: +1-646-2397968; Reuters Messaging: tatiana.bautzer.thomsonreuters.com@reuters.net))

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Dufresne 'Didi' Nicolas, formerly with Bank of America Merrill Lynch and Morgan Stanley, will head the North region, based in New York. Oden said the hires are part of HSBC's strategy to grow in wealth management in the U.S.    \"Today's announcement is the first of several new exciting hires that we will be sharing in the coming weeks as we grow our wealth management and financial planning team,\" Oden said.     The new executives will report to the Americas Head of Global Private Banking and U.S. Wealth Mark Pittsey. HSBC sold its mass retail business in the U.S. three years ago and kept its wealth management operations, with around 300,000 clients.  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