Samir Assaf to head HSBC investment banking division

10th Dec 2010 11:31

HSBC's head of global markets has been named as the new boss of the bank's investment banking operations in its latest management shake-up.Samir Assaf will take up the position as chief executive of the Global Banking and Markets business from 1 January, having led global markets, part of the wider investment banking operations since January 2008.'I have worked with Samir for the last eight years and know his exceptional talent and experience mean that I leave the business in hugely capable hands,' said chief executive-designate Stuart Gulliver.Assaf, who HSBC describes as a 23-year capital markets veteran, has already named the people who will serve under him. Robin Philips and Kevin Adeson will be the new co-heads of an enlarged Global Banking group, while Jose-Luis Guerrero and Spencer Lake will take the lead at Global Markets.In September, HSBC named its investment division head Stuart Gulliver as the new chief executive, replacing Michael Geoghegan. It is also getting a new chairman, with Douglas Flint replacing Stephen Green.