For HSBC Private Bank, the management of wealth and private banking is much more than providing a range of services for deposits and loans but a matter of commitment and great seriousness.

HSBC Group has built its reputation as the world’s local bank by its commitment to understanding and respecting diversity and cultural sensibilities, and the delivery of quality private banking services and products is central to its corporate culture and principles.

Underpinned by decades of experience, private banking for HSBC is about building long-term client relations based upon trust and confidence. These are initiated and continued through one-to-one personal relationships reinforced by a range of specialist services to meet the particular financial requirements of its international clients across the globe.

“I find the region intensely interesting and stimulating both professionally and culturally and I love the enduring sense of Arab hospitality and developing personal relations on a local basis,” says Pierre Pissaloux, a member of the Executive Committee and Global Head of HSBC Private Bank for the Middle East and North Africa.

Although nominally based in Geneva, Pissaloux is typically found within the region, an area which he strongly identifies. Decidedly a people person, Pissaloux thrives in private banking by listening and learning from his clients allowing his wider responsibilities across the Middle East to enrich his lateral vision and global perspective on behalf of his clients.

Born in Tunis, Pissaloux is a graduate of France’s Ecole Nationale d’Administration, the highly selective post-graduate school that educates the country’s top civil servants, and Ecole Polytechnique.

Pissaloux began his career as a high-ranking civil servant in charge of international financial institutions. Later he was assigned to provide assistance to developing countries in his last official responsibilities in the French Treasury and Ministry of Finance.

Pissaloux moved to Geneva in 1996 to become the managing director of Banque Pasche, a leading private bank until 1998. He was a member of the executive committee of Union Bancaire Privée (UBP) for six years, an institution noted for its innovation specialising in private banking and institutional asset management before he joined HSBC Private Bank to take up his top regional position in March 2005.

Whilst a dynamic technocrat and intensely focused on wealth management, Pissaloux has a wide hinterland reading widely in history, culture and cinema and as a family man with a wife and four children.

“Our vision in private banking is to be first and always remain close to our clients through our proven teams of experienced people. It is this principle of being available on a local basis and building trust and confidence that is important as for me there is nothing better than face-to-face meetings particularly when we are discussing complex solutions such as restructuring family businesses, succession planning and investment,” he says.

“HSBC has a solid experience in private banking and in many ways we are one of the first international banks to make use of this immense expertise available across the entire group for the benefit of clients. This global perspective building on the combined strengths and depth of experience from the HSBC group is the essence of our activities.”

“Whether it is the Middle East, China, Vietnam or Brazil, this international banking and commercial expertise used for the benefit of a client is vitally important. HSBC is a strong partner and has always valued personal relations,” he adds.

International operations are implicit in the history of HSBC which dates back more than 140 years, global traditions that have been forged into a professional corporate culture valuing creative and sophisticated solutions for its clients.

Today, HSBC is one of the largest banking and financial services organisations in the world with an international network comprising over 10,000 offices in 82 countries covering Europe, the Asia-Pacific region, the Americas, and the Middle East and North Africa (Mena).

“In terms of our professional expertise available for our clients, HSBC always aims at quality and seeks to recruit the very best talent for our positions,” says Pissaloux. “There are about 180 core private banking staff available for Mena, offering high level expertise with innovative ideas and a rigorous financial approach reflecting our banking strengths and operational integrity.” 

He continues: “Our high net-worth clients are achievers and highly successful in their own right and demand the best in the global context, and I encourage mobility in our private banking teams. Our approach is not to accept the average private banking team but to bring in the top financial players and support staff.

“In many respects my professional role is, as well as meeting the requirements of our individual and institutional clients, to act as a coach and to conduct the orchestra to ensure that our clients receive the very best in terms of talent and expertise from within HSBC. Our priority is always the client and we concentrate on the needs of the client and do not care for the competition. HSBC has always been client-driven and we take these responsibilities absolutely seriously.”

HSBC Group was named after its founding member, The Hongkong and Shanghai Banking Corporation, which was established in 1865 to finance the increasing trade between China and Europe. Today, through its international network linked by advanced technology including ecommerce capabilities, HSBC continues to provide a comprehensive range of financial services from personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.

HSBC in the Middle East has its roots in the former British Bank of the Middle East dating back to 1889 and has progressively developed its office network for many years including Saudi Arabia, Bahrain, the UAE (Abu Dhabi, Dubai, Sharjah), Kuwait, Bahrain, Oman, Jordan, and Qatar as well as Lebanon, Palestine, Tunisia and Morocco.

HSBC has pioneered services and products across the region building on its international capabilities of adaptability, innovation and global reach. An innovative range of products available through HSBC Amanah Finance allows the group to provide Shari’ah-compliant alternatives to meet client requirements. This range of investment alternatives has placed the group as a leading banking and financial services organisation for the Middle East.

Pissaloux says that there is increasing interest from the Middle East for the Far East where massive strategic investments are taking place in China and Vietnam, as well as Brazil, Latin America and Mexico, all territories where HSBC has significant operations and expertise.

Over the past year, HSBC has made several strategic acquisitions increasing its market share and customer numbers particularly in theAmericas including Paraguay, Mexico, Panama, Colombia, Costa Rica, El Salvador, Honduras and Nicaragua for the first time in its history.

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