HSBC hires new head of risk management advisory for Asia-Pacific

HSBC has hired Ivan Wong from Citigroup as head of risk management advisory for the Asia-Pacific region, according to a source at the bank.

Wong, who starts on July 2, will report to Paul Hand, head of sales for the Asia-Pacific region within HSBC’s treasury and capital markets division.

Wong will take over from Azam Mistry, but will have broader regional managerial responsibilities. Wong will oversee a regional team in Hong Kong as well as local teams of risk management advisory throughout the region, including Japan and Australia.

Risk management advisory is a “value-added service offered to clients” whereby HSBC reviews risk-related issues with clients and offers solutions, the banker said.

Wong was previously with Citigroup for 15 years, holding various positions related to derivatives, including head of derivatives marketing for South-east Asia. He was most recently head of regional structured transactions for the Asia-Pacific region.

Wong’s appointment “reflects [HSBC’s] plans to grow [its] derivatives business”, the source said.