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HSBC boosts LatAm team with private bank appointments

HSBC boosts LatAm team with private bank appointments

HBSC Private Bank has boosted its ranks with one hire and two appointments to its international unit, Citywire Americas has learned.

Nicolas Nuñez joined HSBC’s Chile-focused team in Miami as a senior relationship manager in mid-October, a spokesman from HSBC confirmed. The firm recently restructured its private banking business to focus on Argentina, Brazil, Chile and Mexico.

Previously based in Santiago, he was a team leader for a group of local bankers at Itaú Wealth Management. Prior to his seven year tenure at Itaú and Corpbanca, which was acquired by Itaú in 2016, he held positions at Consorcio Corredores de Bolsa.

HSBC has also bolstered its Mexico private banking team with two internal appointments.

Estaban Zorrilla, previously manager of HSBC’s Miami investment strategy group, joined the team as a senior relationship banker reporting to Ernesto Paredes, the firm’s Mexico market head. Zorrilla joined HBSC in 2010 from Santander Private Bank, where he worked in multiple locations including Switzerland.

Mariana Velasquez has been appointed a relationship manager, also reporting to Paredes. Velasquez has been with HSBC since 2014, most recently in a marketing role. She joined from Merrill Lynch International covering Venezuela, Peru, Colombia and Mexico where she provided investment services and sales support.

The appointments come after HSBC’s announcement in September that it was transferring its client book from Central America and the Andean region, excluding Chile, to UBS. As part of the deal up to 20 of its private bankers, which managed close to $5.6 billion, were offered roles at UBS, of which 15 accepted. 

HSBC also lost two private bankers managing Mexican client books to Wells Fargo Advisors in September, Miguel Monnichmeyer and Oscar Gonzalez.

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