(Adds details on appointments throughout)
By Steve Slater
LONDON, June 6 (IFR) - HSBC has restructured its investmentbank as part of a push to streamline the business to make itmore profitable and "agile".
The changes include a new structure in HSBC's global bankingbusiness by setting up a corporate, financials andmultinationals banking unit (CFMB) headed by Philippe Henry,according to staff memos on Monday seen by IFR.
John Crompton, who was HSBC's global head of corporatefinance, and Florian Fautz, global head of M&A, left the banklast week as part of the restructuring, according to peoplefamiliar with the matter.
Several dozen junior staff will also leave as part of thechanges, the people said.
The changes mark a step-up in plans to cut costs andstreamline parts of the investment bank, which were outlined inFebruary by global business and markets chief executive SamirAssaf. At that time HSBC hired senior Goldman Sachs bankerMatthew Westerman to become co-head of banking alongside RobinPhillips. The latest changes follow the arrival of Westermanlast month.
"Our new structure will deliver the best outcome for ourclients by bringing our country, sector and product teams closertogether - and improve returns for our shareholders by improvingour profitability and generating efficiencies," said Westermanand Phillips in the memo.
HSBC said it has also set up a new advisory team, combiningcorporate finance with mergers and acquisitions execution.
The latest memo to staff named new heads for all the regionsand new units within global banking.
Asia-Pacific co-heads will be Martin Haythorne and Che-NingLiu, and within that Stephen Williams will run south-east Asia.
North America will be led by Russell Julius and Lex Malas;Latin America will be led by Katia Bouazza and David Morin;Matthew Wallace will head the Middle East; and Philip Noblet andAlan Thomas are co-heads of the UK. Phillips and Westerman willlead the business in Continental Europe.
The memo said Richard Montague is global head of credit andlending; Ravininder Singh is head of multinationals; Tim Reidwill become head of transaction banking coverage; and StuartRousell will continue to head the working capital managementteam.
Brian Heyworth will continue to run the financialinstitutions group (FIG) globally, with Allegra Berman appointedhead of FIG for EMEA as well as head of public sector.
Jean-Marc Mercier and Alexi Chan remain as co-heads of debtcapital markets globally.
Adrian Lewis, Alexis Adamczyk and David Noble will continuein their roles as heads of equity capital markets in EMEA,Asia-Pacific and Americas, respectively. The memo said Lewis andAdamczyk will be jointly responsible for the overall business. (Reporting by Steve Slater)