In this new role, based in Hong Kong and reporting to Stuart Gulliver, group chief executive designate, Thurston will have responsibility for directing all aspects of HSBC’s retail banking business globally, including the personal financial services and insurance businesses, and the group’s marketing activities.
Thurston will lead the development of HSBC’s retail wealth management business across the group and will also direct the transformation of retail operations and technology platforms. The head of group marketing and the group chief technology and services officer will both report to Thurston.
Thurston will relocate to Hong Kong and remains a member of the group management board and a director of HSBC Bank.
Subject to regulatory approvals, Thurston will also become a director of The Hongkong and Shanghai Banking Corporation, and of HSBC Private Banking Holdings (Suisse).
John Flint, chief executive, global Asset Management, will have an additional reporting line to Thurston, and will assist in the development of the retail wealth management business, while retaining his existing reporting line to Chris Meares, chief executive, global Private Banking.
Brian Robertson, currently group chief risk officer, will be appointed chief executive, HSBC Bank, with effect from 3 December 2010, subject to UK board and regulatory approvals.
Reporting to Gulliver as a member of the group management board, Robertson will have responsibility for all of the group’s businesses in the UK and Continental Europe.
Robertson will become a director of HSBC Bank, and will also report to Sandy Flockhart, chairman, HSBC Bank. He will also become a director and chairman of HSBC Life (UK).
Joe Garner will be appointed deputy chief executive, UK and will become a director of HSBC Bank, effective 1 December 2010, subject to UK board and regulatory approvals.
Reporting to Robertson, Garner will head up the personal financial services and commercial banking businesses in the UK.
Marc Moses will be appointed group chief risk officer, HSBC Holdings, with effect from 3 December 2010, in succession to Robertson.
Reporting directly to Gulliver, Moses will also be appointed a group managing director and will join the group management board with responsibility for risk and compliance.
