HSBC Private Bank, a subsidiary of HSBC Group, has appointed Joe Abruzzo as its newest Business Head of North America, who joins the lender’s New York unit with immediate effect, per an HSBC statement.
In his new role as the Business Head of North America at HSBC Private Bank, Mr. Abruzzo will be tasked with steering and executing HSBC’s North American strategy for private banking with an emphasis on the United States. Given HSBC’s focus on domestic operations, Mr. Abruzzo will also act as a member of the HSBC Global Private Bank Executive Committee.
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In addition, he will also be reporting to Marlon Young, Regional Head of Global Private Banking, US & Latin America (LATAM). Mr. Abruzzo steps into the new role after nearly three decades in the banking industry. He originally joined HSBC in 2014, having worked most recently as its Head of Northeast Corporate Banking and Co-Head of US Corporate Banking.
Prior to HSBC, the bulk of his career was spent at JPMorgan, where he worked in multiple senior level roles, relegated to the Commercial and Corporate and Investment Banking sector.
According to Young in a recent statement on the appointment: “This is an exciting time for Joe to join the Private Bank. We’re growing our business in the US and as we look to build on this momentum, Joe’s deep commercial and investment banking experience will help us to further capitalize on our strategy to be the Private Bank of choice to the owners and principals of HSBC’s corporate clients.”