Stuart Gulliver and John J. Studzinski, who joins HSBC from Morgan Stanley, will become Co-Heads of HSBC’s corporate, investment banking and markets (CIBM) business, from 2 June 2003.
HSBC says combining origination, trading and sales under co-heads will ensures a seamless banking, financing and investor service for the Group’s corporate and institutional clients globally. Gulliver and Studzinski will report jointly to Stephen Green, who assumes his new role as HSBC Group Chief Executive on 30 May 2003. Subject to Board approval, they will both become members of HSBC’s Group Executive Committee, where they will be jointly accountable for the performance of CIBM globally.
Stuart Gulliver (44), is currently responsible for HSBC’s markets business globally. As Co-Head, CIBM, he will lead the Group’s trading and sales of foreign exchange, fixed income, syndicated loans, structured credit, precious metals, equities, and all derivatives, together with futures broking and balance sheet management. Gulliver has 23 years’ experience across Asia in senior positions with HSBC.
John J. Studzinski (47) joins HSBC from Morgan Stanley International, where he was most recently Deputy Chairman, based in London. As Co-Head, CIBM, Mr Studzinski will be responsible for: global relationship management of HSBC’s corporate, institutional and sovereign clients, corporate banking (including transaction banking globally), corporate finance and advisory services, origination in debt and equity capital markets, as well as structured, project and export finance. He has over 22 years of securities industry experience across Europe.
Commenting on the appointments, Stephen Green said: “The continued growth of our CIBM business, which generated over one third of HSBC’s profits in 2002, represents a strategic priority for our Group. In Stuart and John we have highly talented individuals with exceptional connections and experience across Asia and Europe. They form an extremely complementary leadership team.
“John’s appointment, along with Stuart’s arrival in London, is a significant commitment to this business, which is already one of the top three players globally. Under their stewardship, and with our global and regional business heads, we will continue to build on our top tier position. We will deepen and extend existing client relationships, and leverage HSBC’s geographic strengths and natural product linkages.”
Gulliver and Studzinski will jointly chair the CIBM management committee which includes: Krishna Patel, Chairman of the Global Investment Banking Division (who will have additional responsibility for developing global client management processes), Tony Rademeyer, Head of CIBM for Asia-Pacific, Brian Robertson, Head of CIBM for HSBC in North America, and Iain Stewart, Head of Transaction Banking for CIBM.
Charles-Henri Filippi will report directly to Stephen Green on strategic matters for the Group, before returning to Paris early in 2004 to assume an expanded role in France and the Eurozone. On a transitional basis, he will support Stuart Gulliver and John Studzinski as they assume their new roles. He will remain a member of the Group Executive Committee.