EUROPE - HSBC Securities Services has hired Dominic Rieb-Smith as a new global business development manager in its European sales team.

He joins from trade processing firm Omgeo and will report to Richard Hale, head of sales at HSBC Securities Services Europe.

"Last year HSBC Securities Services had assets under custody of around $2.8trn (euro), making it one of the world's leading providers in this market," Hale said.

"Dominic's experience, knowledge and strong sales skills will help us build on this success."

HSBC growth in assets under custody in 2004 was due to a "number of factors". These included new business wins, growth from existing clients, global market appreciation, currency appreciation and the acquisition of the Bank of Bermuda.