Head of US & Institutional Sales - HSBC - New York, New York - EXPIRED

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Posted on: 02-24-2020 in New York, New York

This is an archive of an expired job.

Job Information:

Company: HSBC

North America-United States-New York-New York

The role will include the leadership of the US business as head of country for HSBC Global Asset Management USA (AMUS) and also will be responsible for leading and driving the US Institutional Sales team. The “Head of US & Head of US Institutional Sales” will report to the Global Head of the Institutional Client Business on a functional basis and to the Regional Head of Wealth and Personal Banking on a local basis.

As the country head all local US staff will report into the “Head of US & Head of US Institutional Sales” on an entity basis and into AMG Global Heads (Institutional, Wholesale, Investments, Operations, Marketing, Finance, Risk, Compliance etc.) on a functional basis.

The role covers all aspects of the AMG operations in the country, directing all employees and resources in adherence to HSBC’s / AMG’s policies, standards, best practices, regulations and operating approaches in compliance with all applicable laws and regulations.

Responsible for the maintenance of a successful Investment manufacturing center for AMG in the US delivering the investment performance to enable local sales and cross border sales.

In line with AMG’s focus of globally aligning resources around the needs of our clients, the “Head of US & Head of US Institutional Sales” will be responsible for developing and growing commercially profitable client relationships across the Institutional Businesses in the US.

The individual is responsible for executing the Institutional Business strategy using the local resources while managing the sales performance from a team / individual sales person perspective, including the execution of the in-market client servicing requirements in-line with the business defined operating model, headcount and budgets.

• Create a profitable AMUS business across predominantly institutional and also select global wholesale clients, increasing year on year PBT growth, Revenue growth, Annual Net New Revenue growth, Net New Money growth, Average Liquidity Balance growth, by cross-selling to existing clients and introducing new clients into AMG strategies.
• Lead the annual client planning process, establishing the client populations on which the sales team needs to focus and the strategies and capabilities that will likely lead to success. 
• Closely coordinate and collaborate with the AMG global functional teams (Institutional, Wholesale, Investments, Operations, Marketing, Finance, Risk, Compliance etc.)
• Coordinate with global sales colleagues around global cross-border clients. 
• Represent the AMG business with Group, regulators, at industry conferences and through trade bodies in furtherance of developing new business relationships and opportunities. 
• Closely coordinate and collaborate with Global Banking (GB) and Commercial Banking (CMB) Relationship Managers to introduce asset management capabilities to GB and CMB clients and maintain relationships with Retail Banking & Wealth Management (RBWM) and Global Private Banking (GPB)
• Operate in full compliance with regulations and internal HSBC directives.
• The jobholder must represent and be an ambassador for HSBC Global Asset Management business at all times
• Manage a country team, coach and nurture talent to successfully expand the business activity in the US.

• This role reports to the Global Head of the Institutional Client Business.
• Manage Group relationships in the US i.e. HBUS CEO and RBWM CEO.
• Establish and manage detailed Client plans (with GB and CMB RM where applicable) and hold strategic level discussion with Clients to understand their needs and identify value add investment solutions 
• Responsible for the client satisfaction of all Institutional clients in the US.
• Develop strong relationship with members of the Global Institutional business leadership team and other AMG stakeholders across Investments, Operations and Marketing
• Manage the HSBC Group stakeholders’ relationships i.e. GB&M and CMB.
• Raise AMG’s external profile by personally speaking at industry events
• Maintain relationships with RBWM and GPB and develop selective third party global financial institutions relationships.

• Provide management, leadership, guidance and support to members of team
• Establish annual goals and objectives for the team and agree in measurable performance criteria
• Monitor the performance of team members and engage, train and empower to ensure continuous improvement in client engagement and sales. 
• Ensure that staff is adequately trained. Provides guidance and support to the team and creates opportunities for them to develop their knowledge, skills and experience
• Responsible for managing all issues related to staffing, performance management, compensation, and career development

• Ensure that all sales and client management processes are of the highest quality and in line with AMG’s risk framework and a fully documented and applied consistently
• Ensure all client meetings are properly documented and captured on AMG’s CRM system

• Transformation of the business to meet evolving client needs in the context of an industry not used to change
• Delivery of business growth objectives focusing on revenues and profitability rather than AuM, in a challenging industry environment of reduced margins, consolidation and heightened fund performance expectations
• Managing the prioritisation of competing demands from different stakeholders (Group, investments, capability businesses, operations, marketing, regulatory change etc.) with limited resources whilst delivering in line with AMG strategy
• Breadth of oversight given AMG’s global footprint and the importance of prioritisation

• New role responsible for the country leadership and management and specifically responsible for the US salespeople and client management teams covering Institutional clients.
• Asset management is an attractive industry and one highly relevant to HSBC’s client franchise and strategic growth agenda.  It is an industry which is growing rapidly but also experiencing an unprecedented level of change and potential disruption, driven by regulatory scrutiny, changing client needs, dislocated asset markets and industry pricing pressures. The environment requires intense focus and delivery on transformational growth and business restructuring initiatives
• Expected to deliver high leadership and quality business development and client management services to HSBC standards; Expected to provide clear commercial judgment and direction; Expected to interact with and influence a diverse group of senior stakeholders who are geographically spread and may have different requirements (local, regional and global) and competing demands; Expected to flexibly adapt to a changing set of demands, triggered by, for example: changes in Regulation, management and client requests

• Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the job holder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy
• Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations

• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
• Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.
• Understand the Treating Customers Fairly (TCF) principles, HSBC Global Asset Management’s TCF philosophy and how this affects your role.  Act in a manner that takes account of these principles to ensure fair outcomes for customers

Qualifications

 

Qualifications

• Ideally the candidate should have a relevant investment management qualification e.g. CFA
• Preferred Master Degree in Business e.g. MBA
• Licenses: Series 7, 24, 63, 65 (or 66 in lieu of 63 and 65) 

Knowledge

• Solid understanding of the institutional business and client base.
• Range of customer contacts
• Deep knowledge of the asset management business.
• Appreciation of Investment Management industry sales processes / business methodologies.
• Knowledge of Industry trends and understanding of the US regulatory environment.
• Competitor knowledge, including strengths and weaknesses and product range.
• Product knowledge relating to HSBC solutions, specifically in relation to Emerging Market solutions.

Sales Experience

• A proven track record of selling investment solutions to institutional clients in the US
• Demonstrable client relationship skills
• Cross-selling skills to existing clients
• Listening skills with clients
• Analytical skills
• Evidence of working closely with other teams to influence colleagues at all levels of the business

EEO/AA/Minorities/Women/Disability/Veterans

 

If you would like to notify the Diversity Recruitment team of your application or if you are simply interested in learning about opportunities at HSBC, please email [email protected]