Assaf retirement rings GBM restructuring bell

By David Rothnie
21 Nov 2019

The retirement of Samir Assaf, HSBC’s long-serving head of global banking and markets (GBM), paves the way for a long overdue restructuring of that division. This will test the bank’s new-look management team.

HSBC will undergo a multi-year restructuring of GBM without one of its principal architects after it emerged that Samir Assaf is set to step down.

The 59 year old Lebanese has run GBM since 2010, having previously served as deputy CEO when Stuart Gulliver ran the division. ...

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