HSBC Germany appoints head of securities services

Gina Slotosch has been appointed head of security services in HSBC’s German division.

She will be based in the firm’s Dusseldorf office, and charged with developing the securities services arm, which provides custody and securities lending to German clients.

Slotosch boasts over 30 years’ industry experience. Before joining HSBC in 2005, she held a number of securities services positions at BNY Mellon, Deutsche Bank and State Street.

Since joining HSBC, she first joined HSBC in 2005 to lead securities services sales and business development teams in Germany, before moving to London as head of product for HSBC’s global distribution and transfer agency unit.

HSBC’s securities services division has struggled over the year to date, with profits falling 28% year-on-year in the first six months of 2016 to £9.7 billion, and revenues down 5.8%.

Half-year profits before tax declined over 28% – totalling £9.7 billion (€11 billion) – compared to over £13 billion in the same period last year.

©2016 funds europe

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