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HSBC merges European private banks as it gears for growth

HSBC merges European private banks as it gears for growth

HSBC has brought together its private banks in the UK, Channel Islands, France, Germany, Switzerland and Luxembourg into a single business, HSBC Global Private Banking, Europe, the Middle East and Africa (EMEA).

Chris Allen, based in London and previously head of private banking in EMEA, will head the unified division. 

The bank said the change creates a more integrated, strategically aligned and growth-orientated managment structure.

Charles Boulton has been appointed chief executive officer of HSBC Private Bank in UK, following Allen’s promotion. He has been at the bank for 12 years in a series of senior roles, including UK market head.

Franco Morra, chief executive of HSBC Private Bank (Suisse) SA, will step down later this month.  Christophe Guillemot will lead HSBC in Switzerland on an interim basis, ahead of a permanent appointment. 

HSBC Private Banking opened 2018 with a string of hires to boost its UK presence, with joiners in Midlands, northern England and Scotland.

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