Stuart will succeed Paulo Maia, who has been appointed as CEO of HSBC Latin America – a role he takes up on July 1, 2015. 

Maia is a group general manager of HSBC Holdings; was CEO of HSBC Bank Australia before leading the bank in Canada; and, before that, was deputy CEO of HSBC Bank Brazil. He was appointed as CEO of HSBC Bank Canada in 2013.

Stuart joined HSBC in 1982 and has served as COO of HSBC Bank Canada since 2010.

The firm told Family Wealth Report that a replacement for Stuart in the COO role will be named in due course and that Paulo is replacing Antonio Losada, who is retiring from the role after a 40-year career with HSBC.

With its 150-year history in Asia, HSBC believes it is well-placed to help clients exploit opportunities from improving ties with markets such as China. “As HSBC research shows, this is increasingly a priority for Canadian companies,” the firm said.

Meanwhile, effective April 30 Jason Henderson, executive vice president, managing director and head of global banking and markets, has been appointed to HSBC Bank Canada's board of directors.