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HSBC appoints new markets head amid wider investment bank reshuffle

by Staff GBAF Publications Ltd
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By Lawrence White

LONDON (Reuters) – HSBC has appointed Patrick George as head of markets and securities services, according to a memo seen by Reuters on Thursday, amid a wider reshuffle of the leadership of its investment bank aimed at streamlining decision making.

George takes over the key role overseeing HSBC’s trading operations, and one which had not been formally filled since last October, when the previous head of the division Georges Elhedery was elevated to the bank’s finance chief role in a surprise move.

An HSBC spokesperson confirmed the contents of the memo, which also detailed a raft of other changes to the management of HSBC’s global banking and markets business – which houses its investment bank.

The lender also appointed Lisa McGeough and Gerry Keefe as co-heads of global banking coverage, the memo said.

HSBC’s head of global banking and markets Greg Guyett, who sent the memo, said he would hold internal meetings in the coming weeks to explain the changes.

The moves will help delegate more accountability to individual teams, and foster better cooperation among HSBC’s regional and product-aligned businesses, Guyett said in the memo.


(Reporting By Lawrence White, editing by Sinead Cruise)