HSBC hires new co-head for Islamic finance in global markets

HSBC has appointed William Ross as co-head of Islamic finance, global markets, with immediate effect. He will be responsible for managing the liability side of the Islamic finance business, providing liquidity and risk management services to HSBC clients.

Consolidating HSBC's position in the Sukuk market, Mr Ross will embed Islamic elements into global infrastructure capital flows and tailor financial solutions that meet Shariah standards.

Mr Ross will be based in Hong Kong and report locally to Stephen Williams, head of debt capital markets in Asia-Pacific at HSBC and functionally to Mukhtar Hussain, CEO of HSBC Amanah. Mr Ross will retain oversight responsibility of his current role as MD and head of financing solutions group in Asia-Pacific.

Prior to joining HSBC in 2005, Mr Ross was global head of asset securitisation research at ABN Amro. He had also worked for Merrill Lynch in London and JP Morgan in London and New York.

Mr Williams said: "Will's appointment demonstrates HSBC's commitment to evolving, developing and growing the Islamic banking business. He will be responsible for bringing together existing initiatives and cultivating globally from a product and market share perspective."

Mr Hussain said: "HSBC Amanah, along with HSBC Group, has identified Islamic finance as a key platform for growth. We are constantly recognised as the premier cross-border Islamic financial service provider. The Bank is committed to providing clients with the highest quality Islamic banking solutions and investing in the future of our communities."