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HSBC unveils UK management overhaul

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HSBC has announced a new UK boss as part of a management reshuffle

Banking giant HSBC has announced a new UK boss as part of a management reshuffle by incoming chief executive Stuart Gulliver.

Joe Garner, formerly group general manager of UK personal financial services, will take charge of the UK retail and business banking divisions from Wednesday.

Current UK and Europe chief executive Paul Thurston has been promoted to the newly created role of chief executive of retail banking and wealth management, based in Hong Kong.

His role will be to oversee all aspects of the group’s retail banking and marketing activities.

The changes mark Mr Gulliver’s initial move to stamp his authority on the business, with a vision to increase HSBC’s share of retail banking in the booming Chinese and Indian economies.

Brian Robertson, who is currently group chief risk officer, will be the new chief executive of the UK and Europe business. Mr Garner will be his deputy, taking charge of the UK retail and commercial banking divisions.

The new UK boss has a varied career, having only joined HSBC in 2004.

He previously worked at consumer goods manufacturer Procter & Gamble and Dixons Retail in marketing and operational roles.

Mr Gulliver, group chief executive designate who is due to take over at the end of December, said: “After the financial crisis, I believe customers are thinking more carefully about who they trust with their wealth and savings and configuring HSBC to realise its full potential in retail banking was always going to be my first priority.

“With the massive wealth creation we see in emerging markets today, the logic for HSBC to build a world-class global wealth business for our customers is absolutely compelling.”

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