HSBC has announced the completion of the next stage in its global reorganisation, focusing on International Wealth and Premier Banking (IWPB). The bank will maintain three global business lines: Global Private Banking, Asset Management, and Insurance. Nicolas Moreau will continue as CEO of Asset Management, while Ed Moncreiffe remains CEO of Insurance, both reporting to Barry O’Byrne.
Annabel Spring, CEO of Global Private Banking and Wealth, will leave at the end of December 2024. Gabriel Castello is appointed Interim CEO for Global Private Banking. Lavanya Chari takes over as Head of Wealth and Premier Solutions based in Singapore.
In other geographic appointments within IWPB, Kai Zhang becomes Head for Asia and Dinesh Sharma for the Middle East. Juan Parma will leave his role as Head of WPB Americas by March 2025.
Under Corporate and Institutional Banking (CIB), HSBC aims to enhance its international solutions with a new structure effective January 2025. Manish Kohli continues as Global Head of GPS; Vivek Ramachandran remains Global Head of GTS; Patrick George stays as Global Head of MSS; Adam Bagshaw leads Investment Banking.
Global CIB roles include Sir Danny Alexander as CEO of Infrastructure Finance and Sustainability, Andy Beane as Chief Commercial Officer for CIB, Jo Miyake overseeing Asia and Middle East banking relationships, Gerry Keefe leading Europe and Americas banking coverage.
In HSBC UK operations led by Ian Stuart, Jose Carvalho continues overseeing Wealth and Personal Banking. In Asia and the Middle East under David Liao and Surendra Rosha's leadership, key positions remain unchanged with CEOs across India, Singapore, mainland China, UAE continuing their roles.
HSBC Holdings plc is headquartered in London with assets amounting to US$3.099 trillion as of September 30th, 2024.