HSBC Veteran to Retire
HSBC's co-head of global banking, who was criticised by an anonymous group of colleagues in a widely leaked memo last year, will step down this summer.
After 13 years on the job at Europe's biggest lender, HSBC's co-head of global banking Robin Phillips will step down this summer, Sky News reported, citing internal unnamed sources at the bank.
A formal announcement is expected Thursday, with Greg Guyette, who was named co-head of the division in October, expected to take over responsibilities.
«Unconnected» to Memo
Sky News' sources said that Philips' decision was «unconnected» to the leaked memo from August 2018 by unnamed HSBC senior executives that criticized the bank's Global Banking & Markets division, singling out Philips' leadership and «persistent failure».
«The division’s leadership has, year-on-year, utterly failed to create a successful strategy. We are entirely fed up and demoralised and have no confidence at all in the existing leadership,» the memo said.
