HSBC Co-Head of Global Banking to Leave - Source
February 20 2019 - 4:36PM
Dow Jones News
By Margot Patrick
HSBC Holdings PLC co-head of global banking Robin Phillips will
leave the bank this summer, a person familiar with the matter said
Wednesday, following the hiring of a new co-head last October.
Mr. Phillips, 60, has been with HSBC since 2004 and was
appointed to his current role in August 2013. In his time at the
bank, he helped oversee a restructuring of HSBC's broader global
banking and markets division, and outlasted another co-head,
Matthew Westerman, who left in November 2017 after 18 months.
In October, that vacant co-head position was filled by former
East West Bancorp Inc. President Gregory Guyett. Mr. Guyett will
now be sole head of the division, the person familiar with the
matter said.
Mr. Phillips's planned departure was first reported by Sky
News.
Mr. 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 Mr. Phillips, the person familiar with the matter said,
and his departure is unconnected.
(END) Dow Jones Newswires
February 20, 2019 16:21 ET (21:21 GMT)
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