- HSBC announced a string of senior management changes including the resignation of Andy Maguire as chief operating officer, with effect from 30 January.

Maguire would be replaced as operations head by John Hinshaw, who was most recently executive vice president and chief customer officer of Hewlett Packard.

The bank also said that Pam Kaur, head of wholesale market and credit risk, would succeed Marc Moses as chief risk officer.

Samir Assaf would step down as chief executive of global banking and markets with effect from 1 March, to take on a new role as chairman of corporate and institutional banking.

Georges Elhedery, head of global markets and Greg Guyett, head of global banking, would become co-heads of global banking and markets.

HSBC said changes positioned the bank 'for the next phase of its strategy'.

At 9:53am: [LON:HSBA] HSBC Holdings PLC share price was +0.5p at 562.4p

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