HSBC Co-Head of Global Banking to Leave

By WSJ City 

HSBC Holdings's co-head of global banking Robin Phillips will leave the bank this summer, a person familiar with the matter said, following the hiring of a new co-head last October.

KEY FACTS

--- Phillips has been with HSBC since 2004.

--- He was appointed to his current role in August 2013.

--- He oversaw a restructuring of HSBC's global banking and markets division.

--- Gregory Guyett will now be sole head of the division, the person familiar with the matter said.

--- Guyett is the former president of East West Bancorp.

Why This Matters

Phillips was thrust into the spotlight in August after a letter, purportedly written by employees, attacked his leadership and said the global banking unit was struggling to attract and retain talent. The memo, reviewed by The Wall Street Journal, wasn't signed by anyone. An internal review of the letter's allegations didn't find any fault by Phillips, the person familiar with the matter said, and his departure is unconnected.

A fuller story is available on WSJ.com

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(END) Dow Jones Newswires

February 21, 2019 01:32 ET (06:32 GMT)

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