HBSC has hired Chris Allen as its regional EMEA head of private banking after the bank created a single structure called HSBC Global Private Banking EMEA.

The move aggregates private banking units in the UK, Channel Islands, Germany, France and Luxembourg into a single structure immediately.

HSBC said: “This will create a regional private banking business that is more integrated, strategically aligned and well positioned to deliver continued growth for HSBC Private Banking. Our strategy of serving the personal wealth needs of the owners and principals of HSBC’s corporate clients remains unchanged.”

Before the creation of HSBC Global Private Banking EMEA, Allen has overseen several entities that will form part of the new EMEA regional structure.

The following developments were also made as a result of the EMEA structure:

  • Charles Boulton is appointed CEO of HSBC Private Bank. Boulton previously held a number of roles at HSBC including UK market head and global private banking.
  • HSBC Private Bank’s Swiss CEO, Franco Morra has chosen to step down. Morra will step down on 27 April 2018.

The bank said: “Since his appointment as CEO in 2012, the Swiss Private Bank has reduced its market footprint from 150+ countries to around 20 key markets and successfully shifted the focus to higher net worth clients.”

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By GlobalData
  • Christophe Guillemot will serve as the interim head of HSBC’s businesses until a permanent appointment is made. This interim responsibility will begin from 28 April 2018 and will be in addition to Guillemot’s existing role as CFO of global private banking.

All appointments are subject to regulatory approval.