HSBC’s interim securities services regional head, Asia Pacific and global head of custody, Suvir Loomba, has won Global Custodian’s Industry Person of the Year award for Asia Pacific at a ceremony at Raffles in Singapore last night.
Now in its eighth year across the US, Europe and Asia, Global Custodian’s Industry Person of the Year award recognises the exceptional work of an individual over the past 12 months, who has made a significant impact both within their organisation and to the wider industry. 
This year marks the second annual presentation of the award in Asia Pacific, and makes it two in a row for HSBC, following Rafael Moral Santiago taking home the coveted award at last year’s event.
Loomba has over 20 years of leadership experience in the financial services industry and serves on the Board of various industry and HSBC organisations that allow him to stay connected with the industry, including market participants and regulatory authorities.
HSBC has stood out once again in Asia this year through its approach to innovation and custody services, which saw the firm pick up two other awards on the evening. The first saw the bank pick up the award for Major Markets – As Voted For By Network Managers, and the Digital Asset Initiative of the Year for the great work being done by the bank’s Orion platform.
Global Custodian spoke with Loomba earlier this year about the tremendous growth seen in the Asian securities services market, examining the enhanced interoperability in the region, the challenges yet to be overcome, and the fine balance between competition and co-operation.
“I love competition,” told GC at the time. “The reason I say that is in most of the markets that we choose to operate, our primary criteria is: is it a focus market for HSBC? Is it in sync with our strategy? The reason for that is you can’t do custody without having a strong balance sheet and a strong network. I would not want to be where HSBC doesn’t have focus.”
Loomba is also an avid contributor in market development as a member of the Association of Global Custodians, driving initiatives such as T+1 settlement cycles, digital asset technologies and regulatory regimes. He maintains regular dialogue with International Central Securities Depositories and Central Securities Depositories. 
Loomba is an active participant and speakers at market symposia and conferences includes Fintech festivals, MPF symposiums and other HSBC’s events. He is a champion in talent development and leads initiatives for HSBC staff internally as well as across the industry.
Given the thousands of senior executives across asset servicing industry in Asia Pacific, Global Custodian would like to congratulate this year’s recipient on winning a fiercely competitive award.