Krishna Patel will replace Chris Meares and will assume the new role in September while Meares will take charge of the Asian private banking business until he retires in December this year.
The shift in job location is happening for the second time in less than a year and Patel will be initially based in Geneva.
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Patel has 27 years of experience at HSBC and was a former head of the global investment banking division.He is currently the group general manager and CEO of HSBC Africa, and has held other positions in the past that include chairman of Emerging Europe and Africa.
Reuters quoted the HSBC Group Chief Executive Stuart Gulliver as saying: "With his strong emerging markets background, (Patel) is perfectly placed to build on the success Global Private Banking has achieved in the faster growing markets."
HSBC’s private banking business in Geneva is associated with an infamous data theft case by a former employee involving stealing details of thousands of client accounts, according to Reuters.
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