Peter Boyles is the new chief executive of HSBC’s global private banking (GPB) business with immediate effect – the world’s seventh largest private bank.

Boyles will be replacing Krishna Patel who resigned after less than a year and a half as the head of GPB. Patel will leave HSBC at the end of January after being with the HSBC group for 28 years.

Based in Switzerland, Boyles will report to HSBC group chief executive Stuart Gulliver. Prior to the appointment, he was CEO of HSBC France before being named CEO Continental Europe in 2010.

HSBC Holdings also recently named John Flint as its group managing director and chief executive of the retail banking and wealth management division succeeding Paul Thurston.

New appointments at the top of the group arrived shortly after HMRC started investigating HSBC Private Bank over the theft of UK client’s data in Channel Islands tax haven.