HSBC in investment banking exec reshuffle

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HSBC is reshuffling senior executives in Asia and Europe and will create a 'product neutral' team, separate from sales, to improve its client relationships.

Reuters reports that Robin Phillips, head of global banking and markets (GBM) in Asia and co-head of global banking, will return to London and run the new 'client coverage' team and deputise for Samir Assaf, chief executive of GBM,

Gordon French will succeed Phillips as head of global banking and markets in the Asia-Pacific region, according to an internal memo seen by Bloomberg News.

Kevin Adeson was appointed vice-chairman of global banking and markets, reporting to Assaf, and will be responsible for 'collaboration across business lines'. The reshuffle takes effect on Aug. 12.

Patrick Nolan and Mohammad Al Tuwaijri will continue as heads of global banking and markets for the Americas and Middle East-North Africa regions, respectively.

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