HSBC reshuffles top investment bank jobs: memo

LONDON/HONG KONG (Reuters) – HSBC has reshuffled the leadership of its investment banking division, according to a memo seen by Reuters on Monday, as Chief Executive Noel Quinn presses ahead with changes at the top despite having last month paused a wider job cut programme.

The bank has cut the regional head roles of the Global Banking & Markets (GBM) business which houses its investment banking activities, the memo said. As a result, Asia-Pacific head of GBM Gordon French will take a six-month sabbatical from the bank, while the Americas head Andre Brandao will stay on until the end of the year before a further announcement is made.

In Europe, head of GBM Thierry Roland will step down from that role to focus on heading a unit tasked with disposing of unwanted assets, as HSBC seeks to shrink its balance sheet.

A spokesman for the bank confirmed the contents of the memo.

(Reporting By Lawrence White in London and Sumeet Chatterjee in Hong Kong)