HSBC has named another layer of senior executives across its four business areas after the reorganisation by chief executive Georges Elhedery that started in October, including the appointment of Adam Bagshaw as sole global head of investment banking.

As previously announced, Michael Roberts will lead a recombined corporate and institutional banking team and be in charge of HSBC across Europe. Under this umbrella he will be responsible for wholesale banking teams, products and services, including global payment solutions, markets and securities services, investment banking and global coverage.

Jo Miyake will be head of banking for Asia and the Middle East and Gerry Keefe will be head of banking for Europe and the Americas. Miyake and Keefe will also jointly oversee a combined multinational and international subsidiary banking business and credit and lending.

Bagshaw will run investment banking on his own after the departure of Matthew Ginsburg, co-head of investment banking. HSBC said Ginsburg's departure was part of a longstanding plan and he will retire in March. Ginsburg joined HSBC in 2021 from Fitch having previously working at Barclays, Morgan Stanley and First Boston, including senior roles in Asia.

Bagshaw joined HSBC four years ago from Deutsche Bank as global co-head of advisory and investment banking coverage. He worked at Deutsche Bank for 14 years, including as co-head of corporate finance for EMEA and global co-head of financial sponsors, and previously worked at JP Morgan for 12 years in its media and telecoms coverage team.

HSBC said Patrick George will remain in charge of markets and securities services. Manish Kohli and Vivek Ramachandran will continue to run global payment solutions and global trading solutions, respectively.

Former UK minister Danny Alexander will be chief executive of infrastructure finance and sustainability, leading sustainable finance and clean tech initiatives. Andy Beane has been appointed chief commercial officer for CIB.

Lisa McGeough has been appointed chief executive of the US, which includes responsibility for North America CIB coverage. Andrew Wild remains chief executive of continental Europe.

Jorge Arce remains CEO for Mexico, and will add responsibility for Brazil, Chile and Uruguay.

The changes will take effect in January. Elhedery took over as CEO in September and has made a swathe of senior changes that has seen several senior executives leave. The strategic overhaul is aimed at cutting costs and removing bureaucracy.

Source: IFR