The announcement came a few days after the bank announced sweeping organisational changes to how it is run, including slimming down its reporting lines and cutbacks to certain business areas.

HSBC has appointed Kevin Martin, its head of Asia-Pacific retail banking and wealth management unit, as the chief operating officer of the bank’s newly-created global wealth and personal banking business. The creation of the unit was announced a week ago as part of HSBC’s efforts to streamline its operations and improve financial results. 

As previously reported, the bank said that it is folding its retail and private banking businesses together into a single unit. 

Martin, who he has been at HSBC since 2014, will lead the new organisation’s digital initiatives, Reuters reported (20 February).

As a result of the changes, Martin will continue to work from Hong Kong.