HSBC has appointed Patrick George as global head of markets and securities services, as part of a new leadership team across its global banking and markets business.
The appointments were announced in a memo to staff from Greg Guyett, who in October was made sole head of GBM. He had previously been co-head alongside Georges Elhedery, but Elhedery became HSBC's chief financial officer at the start of this year. Guyett had previously run the markets business.
George was previously head of markets for Europe, Middle East and Africa and North America. Monish Tahilramani has been named head of MSS for Asia-Pacific, reporting to George. The memo said George will make further leadership appointments in MSS in due course.
Lisa McGeough and Gerry Keefe have been appointed co-heads of global banking coverage, according to the memo. They will report to Guyett and regional CEOs. Regional global banking chiefs stay in their roles: Stuart Lea for coverage in South Asia; Christina Ma in North Asia; and Julian Wentzel for Middle East, North Africa and Turkey.
Matthew Ginsburg and Adam Bagshaw remain as co-heads of capital financing and investment banking coverage, reporting to Guyett.
David May will continue to lead global research and will report to Guyett.
"I have considered the appropriate GBM leadership structure given my broader role and the need to streamline decision-making and delegate more accountability and responsibility to our talented teams," Guyett said in the memo, seen by IFR.
"I am also focused on increasing alignment amongst the regions and global product capabilities. The combination of international connectivity and capability is GBM’s most significant competitive advantage."
The memo said George, Tahilramani, McGeough, Keefe, Ginsburg, Bagshaw and May will all be on the GBM executive committee. Also on the GBM Exco will be Suzy White, GBM chief operating officer; Mary MacLeod, GBM head of strategy and banking chief commercial officer; Alexi Chan, head of global banking sustainability; and Melissa Tian, GBM chief of staff.
Guyett joined HSBC in October 2018 and previously worked at JP Morgan for 29 years, including as head of investment banking for Asia-Pacific.