HSBC HSBC Holdings PLC

By Margot Patrick 

LONDON -- HSBC Holdings PLC has hired former East West Bancorp Inc. President Gregory Guyett as co-head of global banking, a person familiar with the matter said Thursday, filling a role left vacant since the departure of Matthew Westerman a year ago.

Mr. Westerman, a former Goldman Sachs Group Inc. banker, left HSBC last year after 18 months in the role. Mr. Guyett will work alongside the other global banking co-head, Robin Phillips, a 14-year veteran of Asia-focused HSBC.

The hire comes after a memo sent to HSBC's board, purportedly written by employees, attacked Mr. Phillips's leadership and said the lender struggled to attract and retain talent in the global banking group. The memo, reviewed by The Wall Street Journal, wasn't signed by anyone. HSBC has announced several other prominent new hires in recent weeks, including naming former Goldman Sachs Canada CEO Peter Enns as global head of its financial institutions group last week.

Mr. Guyett, who couldn't immediately be reached for comment, is a 30-year veteran of JPMorgan Chase & Co., where his roles included heading investment banking in Asia-Pacific and serving as chief executive for Greater China, according to his East West biography.

He joined the California-based bank in October 2016 as president and chief operating officer, and left in August to pursue other interests, according to an August filing. The president role was taken over by East West Chairman and CEO Dominic Ng.

Between JPMorgan and East West, Mr. Guyett was executive vice president of corporate development at industrial group Johnson Controls International PLC.

His appointment at HSBC must clear regulatory approvals before being formally announced, the person familiar with his hiring said.

Mr. Guyett's hiring was first reported Thursday by Sky News.

Write to Margot Patrick at margot.patrick@wsj.com

(END) Dow Jones Newswires

October 11, 2018 10:03 ET (14:03 GMT)

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