HSBC Shifts Executive in Asia Push
NEW YORK (TheStreet) -- European banking leader HSBC is moving a senior executive to a new role in what appears to be focus on catering to wealthy Asian customers.
Paul Thurston, currently managing director of HSBC's U.K. business, is being appointed chief executive of retail banking and wealth management and will relocate to Hong Kong. In the role Thurston will have responsibility for directing HSBC's retail banking business globally and will "lead the development" of HSBC's retail wealth management business, according to a company statement.
"With the massive wealth creation we see in emerging markets today, the logic for HSBC to build a world-class global wealth business for our customers is absolutely compelling," said Stuart Gulliver, designated to become HSBC's Group Chief Executive
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