LONDON, May 31 (IFR) - HSBC has appointed Andre Cronje aschief operating officer of its investment bank, hiring him fromUBS where he held a similar position.
HSBC said on Tuesday Cronje will start on June 13 as COO ofglobal banking and markets (GBM), reporting to GBM chiefexecutive Samir Assaf and group COO Andy Maguire.
Cronje is a qualified lawyer and chartered accountant and has been COO of UBS's investment bank since 2013, where hemanaged major change, regulatory remediation and cost reductionprogrammes, according to an HSBC staff memo.
Cronje held a number of senior roles at the Swiss bank afterstarting in mergers and acquisitions, including leading itsstrategic analysis team, which included M&A.
Didier Descamps, interim COO for GBM, will be given a newrole once Cronje arrives, the memo said. (Reporting by Steve Slater)
HSBC Holdings (HSBA)