HSBC has appointed Michael Madsen as global head of product for private assets for its securities services business. In this new role, Madsen will focus on development of the private assets product strategy and operating model. He will be based in Luxembourg, reporting to Tony McDonnell, global head of alternative investments, securities services, and Niccolo Polli, CEO, HSBC Luxembourg. He joins from Brown Brothers Harriman, where he was a member of the global leadership team for the alternative fund services business.