HSBC has appointed Melvyn Ford as Head of Prime Services, Asia. Based in Hong Kong, Ford will be responsible for the continued expansion of Prime Services operations in the region.

Prime Services was rolled out in Asia during 2011 to meet the needs of the growing number of hedge funds establishing themselves in the region. HSBC has seen significant success in signing up clients to the platform and has continued to make additions to the team to drive the momentum that has been generated.

With 17 years based in Asia, Ford brings a wealth of experience, knowledge and proven revenue generation to the role. He joined HSBC in 2010 to lead the Global Relationship Management function for Hedge Funds in Asia. Prior to joining HSBC, he built and ran a highly regarded Prime Services business at both BoA Merrill Lynch and Deutsche Bank.

Paul Hamill, Global Head of Prime Services, said, “Prime Services is a key initiative for HSBC, and with the strategic importance of the Asian market, we are keen to ensure we have a high quality team in place. Melvyn is an important part of this and we are delighted that he has taken on the responsibility of ensuring the ongoing success of the business.”

Prime Services in Asia is another piece of the development of the Equities business in Asia. HSBC has invested in its Equity Sales and Trading capabilities along with its Research coverage. This targeted expansion has started to bear fruit with landmark deals and with the business in a strong position to take advantage of opportunities.