HSBC Private Bank has appointed Chris Allen as managing director and head of HSBC Alternative Investments.
Allen currently head of real estate for HSBC Alternative Investments.
As of 1 January 2010 he will report locally to Nigel Webber, chief investment officer of HSBC Global Private Banking, and functionally to Peter Rigg, global head of HSBC Alternative Investment Group.
HSBC Alternative Investments is the dedicated unit responsible for hedge funds, institutional mandates and fund of funds for the HSBC group and real estate and private equity investment for HSBC Global Private Banking.
Allen joined HSBC Alternative Investments in 2007 to head up its real estate division. Prior to joining HSBC he spent ten years at Colliers International, ultimately as executive director within its investment division before joining Ahli United Bank as head of real estate fund management.
Webber says: “Chris has shown considerable success in developing and building the real estate business within HAIL over the past few years. We expect to see the same skills brought to the future development of HAIL as a whole.”
Allen adds: “I am delighted to have this tremendous opportunity of further developing the HAIL business. HAIL is back in a growth trend after the turbulent markets of the past year as clients’ appetite for alternatives picks up in their search for attractive risk adjusted returns and diversification.”