HSBC Bank Australia has appointed Andrew Bastow as the new head of its securities services unit.
Bastow, who is currently chief technology and services officer for HSBC Ireland, will be responsible for overseeing the ongoing growth in the Australian securities services business.
He succeeds Peter Snodgrass, who has held the position since 2005. Snodgrass has been appointed HSBC Securities Services Japan head of sub-custody and clearing, effective 1 January 2010.
"Andrew's appointment will ensure that we retain our market-leading position in the sub-custody business and continue our focus on the delivery of world-class services to our clients," HSBC head of global banking in Australia Janie Wanless said.
"Andrew brings a global perspective to this position and his appointment reflects the strategic importance of the securities services business to HSBC in Australia."
Bastow will relocate to Sydney from Ireland for his new job, which he begins on 7 December.
HSBC Securities Services provides services to banks, global custodians and cross-border institutional broker-dealers in 39 markets around the world.
