HSBC Private Bank experience reveals families with substantial wealth are seeking ways to simplify their complex financial lives

HSBC Private Bank announced today the formation of a global family wealth initiative led by Mary Duke, managing director and head of Wealth Advisory Services – Americas. Duke will bring together the bank’s regional family wealth specialists from around the world to better serve the complex needs of today's wealthy families dealing with family owned enterprises and multi-jurisdictional issues.

HSBC Private Bank's global presence and work with the world's most international families allows it to identify important global trends, and develop and promote best practices in managing, protecting and passing family wealth. This initiative, which will increase collaboration between the bank's wealth specialists, comes at a time when clients' lives are becoming more international and they demand solutions to simplify their wealth management needs.

"By uniting specialists in family office advisory, philanthropy, tax advisory, strategic asset allocation and consolidated reporting, the private bank will create a 'joined up' team to serve the complex needs of wealthy families, especially those with family owned-enterprises and cross border advisory needs," said Mary Duke.

Duke joined HSBC Private Bank in 2003 to lead the Family Wealth Advisory group in the Americas and was promoted to head Wealth Advisory Services for the Americas in 2005. Her experience as the head of two family offices, and work as an attorney and family advisor give her deep insights into the needs of families with significant wealth.

“This initiative is a natural response to the increasingly global nature of our clients’ lives – they live, study, travel and invest throughout the world and we can help with the remarkable complexities that result," added Chris Meares, CEO and global head of HSBC Private Bank.

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