HSBC co-head of global banking to leave: source
By Kanishka Singh (Reuters) - Robin Phillips, HSBC Holdings Plc's co-head of global banking, will depart in the coming months, a source familiar with the matter said on Wednesday. No reason was given for his departure. Greg Guyett, the division's co-head alongside Phillips and a former JPMorgan banker who was hired in October, will become the sole head of global banking at HSBC, the person said.
By Kanishka Singh
(Reuters) - Robin Phillips, HSBC Holdings Plc's co-head of global banking, will depart in the coming months, a source familiar with the matter said on Wednesday.
No reason was given for his departure. Greg Guyett, the division's co-head alongside Phillips and a former JPMorgan banker who was hired in October, will become the sole head of global banking at HSBC, the person said.
HSBC declined to comment on the development.
Sky News and Financial Times had reported earlier that Phillips will step down after 13 years in the job.
The news comes months after a memo was circulated by an anonymous group of colleagues criticizing Phillips, who was accused in the memo of overseeing "persistent failure" in the business. Phillips' departure is not linked to the memo, the source told Reuters.
(Reporting by Kanishka Singh in Bengaluru; Editing by Cynthia Osterman)
This story has not been edited by Firstpost staff and is generated by auto-feed.
also read
France, Germany to agree to NATO role against Islamic State - sources | Reuters
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
China's Xi says navy should become world class | Reuters
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.