HSBC’s global private banking and wealth CEO Annabel Spring is exiting the company, with her responsibilities to be divided in the latest round of leadership reshuffle.
Spring will depart at the end of this year to pursue other opportunities, with Gabriel Castello named the interim CEO of global private banking.
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Castello, who will report to Barry O’Byrne, will also maintain his current positions as CEO of the Swiss Private Bank (PBRS) and head of global private banking for EMEA until further notice.
A search for a permanent CEO will commence in “due course”.
Meanwhile, Lavanya Chari has been named head of wealth and premier solutions, based in Singapore, within the international wealth and premier banking (IWPB) segment.
Chari, currently global head of investments and wealth solutions, will report to O’Byrne and oversee wealth solutions across markets and teams supporting select retail products.
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By GlobalDataAdditionally, a new chief commercial officer role for IWPB, based in Hong Kong, will be established, with a recruitment process starting soon.
Other appointments include Kai Zhang as Head of IWPB for Asia and Dinesh Sharma as Head for the Middle East.
Recruitment for the head of IWPB for the Americas and Europe will begin shortly.
Juan Parma, head of WPB Americas and CEO Argentina, will leave in March 2025. Taylan Turan will lead IWPB’s integration until the end of July 2025.
The corporate and institutional banking (CIB) business will unite wholesale banking teams, products, and services, with Michael Roberts leading the integration.
In global services, Manish Kohli, Vivek Ramachandran, and Patrick George will continue as heads of their respective divisions, with Matthew Ginsburg retiring in March 2025.
Adam Bagshaw will serve as global head of investment banking, and Sir Danny Alexander as CEO of infrastructure finance and sustainability within CIB.
The coverage and network division will see Jo Miyake and Gerry Keefe overseeing client relationships and regional collaboration, with Andrew Wild continuing as CEO of Continental Europe and Lisa McGeough as CEO, US.
Jorge Arce will add responsibilities for Brazil, Chile, and Uruguay to his role as CEO, Mexico.
In the UK, Jose Carvalho and Stuart Tait will continue their leadership roles, reporting to Ian Stuart.
In Asia and the Middle East, David Liao and Surendra Rosha will oversee the business, with Luanne Lim and Diana Cesar leading HSBC Hong Kong and Hang Seng Bank respectively.
Selim Kervanci is set to become CEO of the Middle East, subject to regulatory approval, and Philip Fellowes will support the Hong Kong business as chief commercial officer for Asia and the Middle East.
The changes come as part of a broader restructuring within IWPB, which will continue to operate three global business lines – global private banking, asset management, and insurance.
These lines will retain global oversight of client portfolios and support teams, with a wealth and premier banking solutions group established to focus on product excellence.
Nicolas Moreau and Ed Moncreiffe will continue as CEOs of asset management and insurance, respectively, reporting to O’Byrne.
The restructuring will also see the creation of a single centre of expertise for wealth and premier solutions, separating wealth products from the global private bank.
