Sources within HSBC have confirmed that the bank will announce this morning that Mike Powell, who runs the global markets team in Asia, is to leave Hong Kong in July and move to London. There he will become European head of global markets and Treasurer of HSBC Bank PLC. Essentially this mirrors the same role he has held in Hong Kong since Stuart Gulliver departed earlier this year to run global markets.
Taking over Powell's duties in Hong Kong will be Anita Fung and Paul Hand, who will become co-heads of global markets, Asia Pacific. Hand will retain his current role as head of sales and in particular his risk management and...
