Philippe Khoury has been seconded from Total's multi-billion dollar sales operation to join HSBC as its global head of strategic energy solutions. His appointment comes close on the heels of the hiring of Matthew Wallace as global head of HSBC's 70-strong resources and energy group in September, to whom Khoury reports. Both men are based in Hong Kong.
Khoury's role will be within HSBC's global banking business. In addition to the worldwide resources and energy group, his team will support other sectors, helping the bank's clients address their sourcing, hedging and financing needs for key commodities and oil products.
"Khoury's extensive experience will allow HSBC's global banking and markets franchise to create a range of bespoke solutions for the management of clients' often increasing pricing, delivery and financing risks," said a spokesperson in a statement yesterday.
In particular, he and his team intend to devise and implement client strategies that leverage the Totsa Alliance, which was set up between HSBC and Total in July 2010. The venture enables HSBC to offer energy-specific OTC derivative products to Totsa's oil trading clients, allowing each partner to focus on its core expertise.
Khoury is a 21-year veteran of Total and has broad experience in the corporate side of the commodity and oil products business. Most recently he was president and chief executive of Total's Americas trading and shipping activities (Atlantic Trading & Marketing), which trades more than 1.8 million barrels of oil equivalent per day of crude and crude-linked products, in both physical and paper form. Prior to this role, he was in charge of Total's leading Africa and Caribbean trading business.
Before the merger of Totalfina and Elf Aquitaine in 1999, Khoury opened Elf's trading and shipping office in Moscow overseeing activities in the Commonwealth of Independent States and the former Soviet Union.
Also announced yesterday, Henry Hou has joined HSBC as head of energy solutions sales, Greater China, Global Markets.
Hou is responsible for leading the sales of energy risk management products to corporate clients in mainland China, Hong Kong, Macau and Taiwan, as well as Vietnam. Prior to joining HSBC, he was head of energy marketing for Greater China at Morgan Stanley, where he worked for more than eight years. Before that, he served in a number of roles at China's State Administration of Foreign Exchange for 11 years. Hou is based in Hong Kong.