HSBC Securities Services (HSS) has named Giovanni Fenocchi as global head of its issuer services business, marking the latest reshuffle to its senior securities services management team.
He will take on the role in the second quarter of this year and join the HSS global executive committee, according to an internal memo seen by Global Custodian.
Fenocchi previously served as HSBC’s chief operating officer (COO) for the financial institutions and public sector group within global banking.
Fenocchi replaces Ian Pryor, who served as acting global head of issuer services from November. Pryor will return to his role as global business manager, reporting into Fenocchi.
HSS’ issuer services business provides administration for bond and debt issuance, as well as trustee, account bank, custody and agency services for insurance-linked securities.
In addition to Fennocchi, HSBC has hired product specialist Helen Baker as a senior global custody product manager.
She joins from Deutsche Bank where she served as a director for the EMEA securities services sales team, with added responsibility for driving international growth for its Asia franchise. Baker was also previously a director for collateral management solutions for APAC at Euroclear.
HSBC has made a swathe of senior managerial changes to the securities services business this year. These include a new global head of direct clearing and custody and broker outsourcing product, a new head of client management and business development for Americas asset owners and managers, and a new head of Europe.