HSBC has named a new chief for its private banking division, following Peter Boyles’ decision to retire.
With effect from 1 January 2019, Antonio Simoes will replace Boyles as chief executive for global private banking.
Boyles has been leading the London-headquartered private bank since December 2012. Prior to that, he was CEO, continental Europe as well as head of commercial banking for Europe.
The veteran, who is also a member of the group management board, joined HSBC in 1975, and has worked in various roles across Asia, the Middle East and Europe in the past 43 years.
Simoes, meanwhile, joined HSBC in 2007 as group head of strategy, following which he was appointed chief of staff to the group CEO.
In 2012, he relocated from Hong Kong to London to lead the European retail banking and wealth management business, which included responsibility for asset management and insurance.
Simoes was then appointed UK CEO for HSBC and deputy chief executive of HSBC Bank, before being named chief executive of HSBC Bank and chief executive of Europe in 2015.
Simoes will be succeeded by James Emmett as chief executive of HSBC Bank and Europe with immediate effect.
Emmett has been with HSBC since 1994 and worked in commercial and retail banking, trade finance, operations and technology as well as strategy roles in Europe, Asia, the Middle East and the Americas.