HSBC Taps JPMorgan Vet to Head Global Family Office

HSBC Holdings Plc has hired Hannes Hofmann, a veteran of JPMorgan Chase & Co., to lead its global family office efforts. Hofmann will serve as the global head of family offices in a newly created role based in London. He joins from Citigroup Inc., where he held a similar position until last year.

Hofmann's appointment is part of HSBC's push into serving private investment firms for billionaires. Cayman Wills, another former Citigroup executive, will join HSBC later this month as head of its private bank in the US.