The Hong Kong/UK-listed bank, which has made a number of private banking, wealth and other divisional changes, has announced changes at the top of its Swiss private banking operations.

HSBC has named one of its senior figures, John Shipman (pictured), as interim chief executive of the Swiss private bank and country head in the Alpine state, adding to a run of appointments across the private banking side of the group in recent days. 

Shipman has been chief risk officer for the Swiss private bank for more than six years. He reports to Gabriel Castello, interim CEO of HSBC Global Private Banking. Castello will also join the Swiss private bank’s board as a non-executive director in 2025, the firm said in a statement yesterday. 

Among other roles, Shipman has worked in the capital markets and banking sector for 25 years, including 15 years at HSBC. His positions at HSBC have included global head of operational risk for HSBC global banking and markets, commercial banking, and global private banking.

Before he takes up the post, Jane French will act as interim chief risk officer for HSBC’s Swiss private bank. Most recently, French was HSBC global chief risk and compliance officer for global banking and markets, and previously global chief risk and compliance officer for global private banking.

The appointments, which are effective 1 January 2025, are subject to regulatory approvals. 

HSBC said it will start to fill the permanent roles and provide a further update in due course.

Structure changes 
Last week, in setting out its plans for international wealth and premier banking, HSBC said it would continue to run three global business lines – global private banking, asset management, and insurance. It will also have a wealth and premier banking solutions group focusing on product excellence and establishing a chief commercial office.

Nicolas Moreau will continue as CEO, asset management, and Ed Moncreiffe will continue as CEO, insurance.

The bank will continue to create a “single centre of expertise” in wealth and premier solutions and will separate wealth products from the global private bank.

Consequently, Annabel Spring, CEO, global private banking and wealth, will be leaveing on 31 December 2024 to pursue other opportunities. 

Lavanya Chari, global head of investments and wealth solutions, has been appointed head of international wealth and premier solutions, IWPB, based in Singapore. Charu will be responsible for wealth solutions across markets, as well as those teams supporting select retail products, such as unsecured lending, mortgages, and transaction banking.  

The bank said it will create a new role of chief commercial officer, IWPB, based in Hong Kong. HSBC said it has started to look for a person to fill the role.

IWPB geographic appointments
Kai Zhang is appointed head of IWPB, Asia. Zhang is head of wealth and personal banking for South and Southeast Asia.

Dinesh Sharma, who has been appointed  as head of IWPB, Middle East, is head of WPB for EMEA.

HSBC said it will be creating a new role of head of IWPB, Americas and Europe and a recruitment process will begin “imminently.”

Juan Parma, head of WPB Americas and CEO Argentina with coverage for Uruguay, has decided to leave HSBC at the end of March 2025 to pursue other opportunities. Taylan Turan will perform a transitional role leading IWPB’s integration until the end of July 2025. 

Corporate and institutional banking
HSBC said it is melding wholesale banking teams, products, and services under the corporate and institutional banking (CIB) business, creating a “simpler, more agile” structure.

The new entity includes global payments solutions (GPS), global trade solutions (GTS), markets and securities services (MSS), investment banking, global coverage, and key geographies in Europe and the Americas, with leadership appointments effective 1 January 2025, subject to regulatory approval.

Global services
Manish Kohli will continue as global head of GPS; Vivek Ramachandran will continue as global head of GTS; and Patrick George will remain as the global head of MSS, driving FX, research. 

Matthew Ginsburg has confirmed his long-standing plan agreed with the bank to retire from HSBC in March 2025. 

Adam Bagshaw is global head of investment banking.

Sir Danny Alexander is CEO of infrastructure finance and sustainability, CIB, leading sustainable finance and clean tech initiatives.

Andy Beane is chief commercial officer (CCO) for CIB. 

Jo Miyake is head of banking, Asia and Middle East.

Gerry Keefe is head of banking, Europe and Americas. 

Miyake and Keefe will jointly oversee the combined multinational and international subsidiary banking (ISB) business and credit and lending.

Andrew Wild will coninue  as CEO of Continental Europe. 

Lisa McGeough is CEO, US.

Jorge Arce will remain as CEO, Mexico, with added responsibility for Brazil, Chile, and Uruguay. 

Jose Carvalho will continue as head of wealth and personal banking, including responsibility for first direct and M&S Bank and entity oversight of global private banking in the UK.

Stuart Tait will continue as head of commercial banking, including responsibility for HSBC Innovation Banking in the UK.

Luanne Lim and Diana Cesar will continue to lead HSBC Hong Kong and Hang Seng Bank and its affiliates respectively.

Maggie Ng is head of WPB, Hong Kong, and Frank Fang is head of CMB, Hong Kong. They cover the retail and wealth distribution and commercial banking businesses, respectively.

The CEOs in the following Asia and the Middle East regions remain unchanged:

CEO, India – Hitendra Dave; 
CEO, Singapore – Kee Joo Wong; 
CEO, mainland China – Mark Wang; and 
CEO, UAE – Mohammed Marzouqi.