HSBC Securities (HSS) has appointed Nico Torchetti as head of product development for its global sub-custody and clearing business.
He will be responsible for the continued expansion of sub-custody and clearing products with a specific focus on broker-dealer outsourcing and will be based in Hong Kong.
"Nico brings an exceptionally strong background in product development and having him on board will help us compete more aggressively in our rapidly expanding broker outsourcing franchise," said Colin Brooks, global head of sub-custody and clearing at HSS.
Torchetti, who has over 15 years of experience in the securities and derivatives industry, joins from Deutsche Bank where he was head of direct securities services, Hong Kong and head of broker dealer coverage, Asia.