HSBC Bank Australia has appointed Andrew Bastow as head of securities services.
Bastow will be responsible for overseeing the ongoing growth in the securities services business in Australia, a statement said.
Currently the chief technology and services officer for HSBC Ireland, Bastow has extensive international experience in securities services, risk management, transactional banking, operations management and IT.
He has worked in a number of countries including Ireland, the United Kingdom, New Zealand and Australia.
“Andrew brings a global perspective to this position and his appointment reflects the strategic importance of the securities services business to HSBC in Australia,” HSBC head of global banking in Australia Janie Wanless said.
“It also demonstrates the depth of global talent that the HSBC Group possesses and continues the HSBC practice of moving the best talent around the globe to meet the dynamic needs of the group.”
Bastow’s appointment would ensure HSBC Australia retained its market leading position in the sub-custody business as well, Wanless said.
Bastow succeeds Peter Snodgrass, who has held the position since 2005.
Snodgrass has been appointed head of sub-custody and clearing for HSBC Securities Services in Japan and starts in his new position on 1 January 2010.
Bastow will relocate to Sydney from Ireland and begin in his role on 7 December 2009.
HSBC Securities Services provides services to banks, global custodians and cross border institutional broker-dealers in 39 markets across the Asia-Pacific, the Middle East and Africa, Europe and Latin America.
