HSBC’s Global Payments business makes two new senior hires
HSBC has appointed Martijn Stoker – most recently at JPMorgan – as Global Head of Global Payments Solutions (GPS), Liquidity and Investment Solutions; and Melissa Tuozzolo – most recently at Bank of America – as Global Head of GPS Client Service.
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Martijn will be responsible for evolving and executing the product strategy for GPS’s liabilities and liquidity management product portfolio. Martijn will join HSBC in London in October. At JPMorgan he was EMEA Head, Liquidity & Account Solutions.
Melissa will be responsible for leading Client Services for GPS across all regions and clients, to ensure a first class client service and post-sales support culture, and to position HSBC as an industry leader in this area. She will be based in New York when she joins in September. At Bank of America Melissa was Head of International and Financial Institutions Payments.
Manish Kohli said: “Growing our payments business is a strategic priority for HSBC, and we have been investing to enhance, digitise and diversify the business. Martijn and Melissa’s deep industry experience across international markets and digital innovation will be a huge asset as we continue to execute on this goal.
HSBC processes over 4 billion payments every year valued at US$600 trillion in 2022, and facilitates cross-border payments in more than 130 currencies, to over 175 countries. From 2017 to 2022, the average level of deposits in HSBC’s GPS business increased by 48% from US$518 billion to US$767 billion. In 1Q 2023 GPS revenues across Commercial Banking and Global Banking & Markets were $4.0bn, up from $1.5bn in 1Q 2022.