Big financial groups including JPMorgan and HSBC are rushing their private banking chiefs to Asia to focus on opportunities in the fast-growing region.
HSBC is in advanced discussions to move Chris Meares, the global head of its private bank, from London to Hong Kong, with a decision expected shortly, according to people familiar with the matter. Its private bank has more than $400bn under management.
It is understood that senior executives are pushing for Mr Meares to be based in Asia to position the bank better to capture the region's growing wealth. HSBC declined to comment.
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