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3 April 2012
New York, NY - HSBC Private Bank today announced that David Knafo, Ofer Vadel, and Ethan Assouline have joined the private bank reporting to Mason Salit, International Private Banking Head for the New York area. Knafo joins as a Senior Vice President and Senior Relationship Manager; Vadel joins as a Vice President and Relationship Manager, and Assouline as a Vice President and Associate Relationship Manager. Based in New York City, they are responsible for serving the private banking needs of the Israeli community.
"HSBC has been serving the private banking needs of the Israeli community for more than a quarter century," said Mason Salit. "David, Ofer and Ethan bring complementary skill sets and when combined with our service and product offerings will allow us meet the financial needs of this important community."
Knafo brings more than 11 years of private banking experience to HSBC. He joins from Safra National Bank of New York where he was a private banker responsible for serving the needs of high and ultra-high net worth individuals, as well as corporations. Knafo has a law degree from the University of Strasbourg and a management degree from the University of Caen in France. He also holds an MBA from the Zicklin School of Business in New York City.
Vadel brings more than 14 years of financial services experience to HSBC. He joins from Bank Hapoalim where he held various positions including as a relationship manager in the commercial and private banking division covering Israeli corporations and private clients. He holds an MBA from the Zicklin School of Business in New York City.
Assouline joins after three years at Gottex Fund Management where he served as a Senior Associate and Risk Manager. He started his financial services industry career at UBS. Assouline holds a Bachelor of Science in Finance and Mathematics from Yeshiva University in New York City.
HSBC Private Bank provides wealth management and advisory services to high net worth individuals and families with local and international needs through some 37 countries and territories around the world. Our services include banking, liquidity management, investment services, custody, tailored lending, wealth planning, trust and fiduciary services, insurance, family wealth advisory and philanthropic advisory.
HSBC Private Bank, a division of HSBC Bank USA, N.A., offers a wide range of wealth management and specialist advisory services for high net worth individuals and families with local and international needs, including banking, liquidity management, investment services, custody services, tailored lending, wealth planning, trust and fiduciary services, insurance, family wealth and philanthropic advisory services. In addition, HSBC Private Bank professionals are able to leverage HSBC's global capabilities, resources and expertise -- including capital markets, commercial real estate and middle market lending -- on behalf of clients to deliver services and solutions for all aspects of their wealth management needs.
HSBC Private Bank is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group worldwide. HSBC Private Bank and the private banking activities of HSBC Trinkhaus as well as the HSBC Private Banking entities, known collectively as Global Private Banking, provide services to high net worth individuals and their families in some 37 countries and territories in Europe, the Americas, the Asia-Pacific region, the Middle East and Africa. Private Banking and Wealth Management Services in and from the United States are offered through HSBC Private Bank Americas, a division of HSBC Bank USA, N.A., and HSBC Private Bank International in Miami.
Profits before tax for the full year to 31st December 2011 were US$944 million and reported total client assets were US$496 billion. HSBC Private Bank draws on the strength of the HSBC Group, one of the world's largest banking and financial services organizations that provides a comprehensive range of financial services.
For more information, visit www.hsbcprivatebank.com
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