HSBC has given notice of plans to relocate four senior executives from London to Hong Kong to more closely concentrate on the fast-growing Asian markets.
There are some executives who have indicated that they intend to depart this year, including Barry O'Byrne, global commercial banking co-head; Nicolas Moreau, global asset management head of investment management; and Greg Guyett, global markets, all of whom indicated in internal notes.
The best way to increase the geographic diversity of the global executive team is to position more of them in strategic regions," according to HSBC CEO Noel Quinn
The globally prominent bank, HSBC, was established in Hong Kong in 1865 in a game of geopolitical power politics between China and the West and Beijing, which is affecting the Asian financial center's autonomy. Many members of the U.S. and British government have encouraged the bank to intervene but Quinn has refused, saying that he is a politician, not a bank official.
HSBC is to establish the bank's co-head of an investment banker in Hong Kong, as the UK proceeds to redistribute the country's most important roles and executives out of the financial district to the continent in Asia.
Greg Guyett and Nuno Matos, co-the who's CEO of global banking and markets and is moving to Hong Kong along with Barry O' Byrne-have informed Financial News received an internal memo about the change in their organization which reports that the latter has included them in their wealth and personal banking structures.
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