HSBC, one of the largest hedge fund investors in the world, has recently lost four senior people in the private banking unit that is responsible for picking the best money managers for their wealthy clients.
The four are William Benjamin, head of alternative investment research globally; Clark Cheng, head of alternative investment research in the Americas; David Ritterband, head of alternative advisory and discretionary mandates; and Faraz Sultan, global head of portfolio management. They did not respond to requests for comment.
HSBC spokeswoman Katie Amber-Mackin declined to comment on the departures. But she confirmed several new roles that would effectively fill the void the departures created.
They include Simon Garfield as global head of portfolio management (the same role Sultan held in London); Peter Rice, head of portfolio management in Switzerland; and Ilkka Anhava, head of hedge fund research in the Americas (Cheng's position in New York). Amber-Mackin also confirmed that private bank is recruiting for a global head of research.
"We are hiring selectively for growth in this business," she said in an email.