HSBC retail banking and wealth management chief executive Paul Thurston will retire at the end of the year.
Former HSBC Global Asset Management chief executive John Flint will take over from Thurston on 1 January, with Guilherme Lima succeeding Flint as group head of strategy and planning.
Group chief executive Stuart Gulliver says: “I would like to thank Paul for his 37 years of dedicated service to HSBC. Paul had planned to retire two years ago but stayed on at my request to help establish retail banking and wealth management as a globally managed business.
“Under Paul’s leadership RBWM has developed and rolled out consistent business models across multiple markets as part of a new, highly targeted strategy to build a global business.”
AWD Chase de Vere head of communications Patrick Connolly says: “HSBC will have given serious thought to where it wants to focus its activities and who the right people are to lead them.”