HSBC Securities Services (HSS) has hired Bill Muia from RBC Investor and Treasury Services (RBC I&TS) to help boost the bank’s sales team for US asset managers and owners.
Muia joins as a director for sales and business development in New York, reporting to Scott Markowitz, head of sales and business development for the Americas at HSS.
He will be responsible for overseeing a portfolio of Americas-based asset manager/owner sales prospects, in line with HSBC’s overall mandate to drive sales revenues across Europe, Asia and the Middle-East.
Muia joins HSBC from RBC I&TS where he was previously a senior sales executive within the Canadian bank’s global client coverage business. He also worked at JP Morgan investor services as an executive director for business development, with a focus traditional asset management firms.
HSBC has made a number of moves over the past couple of months to boost its global sales coverage. In March, the custodian hired Riccardo Millich in a newly created role to lead its sales strategy for the Luxembourg market.
In the first quarter of 2018, revenues for the securities services business grew 12% over the year to $482 million, driven by higher interest rates and growth in operating balances.