Nick Bryan, one of the best-known, best-liked and most-admired bankers in the sub-custody industry, is to step down as head of custody and corporate trust services at HSBC Securities Services at the end of June this year. The news, though not unexpected, presents both staff and clients at HSBC Securities Services with a challenging transition to the post-Nick Bryan era at the bank.
Long based in Hong Kong, but with responsibilities covering the Middle East and Latin America and, latterly, the under-performing sub-custody operations of the bank in London Bryan led the transformation of the HSBC operations in Asia into one of the two agent banking networks that now set the standards for the industry on a worldwide scale.
Since he first joined the bank in the Middle East 33 years ago, Bryan has had a distinguished career with HSBC. He has worked in the Securities Services business for 17 years and has headed the custody and corporate trust businesses for the past 10 years.
Although he has reached the retirement age for international managers, it would be surprising if HSBC has not sought to retain his services in an advisory capacity if only to prevent competitors capitalising on his immense knowledge and range of contacts. Rivals, and especially leading rivals with ambitions in Asia such as BNP Paribas, would be prepared to pay a handsome price to tap into these assets.
Colin Brooks, global head of custody and clearing, and Charles Song, global head of corporate trust and loan agency, who are both based in Hong Kong, will continue to lead their respective businesses. Both Brooks and Song are longstanding members of the team led by Nick Bryan. James Hogan, who headed of custody and clearing for HSBC from Hong Kong for a short period, moved to a new role within HSBC in September last year.
“Nick has made a very significant contribution to the development and growth of HSBC’s custody and corporate trust and loan agency businesses over many years,” said London-based Tim Howell, global head of securities services at HSBC, in a statement. “Colin and Charles are both highly experienced industry professionals who will continue to lead the businesses to ensure we provide superior services to our clients.”