16th Jun 2014 13:40
LONDON (dpa-AFX) - HSBC Holdings PLC Monday said it has appointed a new president and chief executive of its US unit, with Patrick Burke replacing Irene Dorner, who is retiring after 32 years at the banking group.
Burke will lead the US unit from the beginning of November, but will become an executive director of HSBC North America Holdings Inc, HSBC USA Inc, and HSBC Bank USA NA from the end of June. He became the chief executive of HSBC Finance Corp in 2010, where he was responsible for winding down the household consumer finance business.
Burke joined HSBC in 1989 and was appointed a group general manager in 2011. His predecessor joined HSBC in 1982 as an in-house lawyer at Samuel Montagu. Having held a number of roles at HSBC Bank PLC before her appointment as deputy chairman and chief executive of HSBC Bank Malaysia Berhad in 2007, Dorner then moved to the US in 2010 as president and chief executive of HSBC Bank USA. She became responsible for all of the group's US businesses in 2011 and was appointed as a group managing director in 2013.
In addition, HSBC said that it has appointed Rhydian Cox as the head of regulatory remediation for HSBC US, a new role. Cox also has been appointed as an executive director of HSBC North America Holdings Inc, HSBC USA Inc, HSBC Bank USA NA and HSBC Finance Corp, and will take on both roles from June 30.
Cox was appointed as HSBC's Asia-Pacific chief risk officer in 2008. He joined the group in 1984 and was appointed a group general manager in 2013.
HSBC shares were Monday quoted in London at 613.70 pence, down 0.4%.
By Samuel Agini; [email protected]; @samuelagini
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