HSBC appoints UK-based head of renminbi business development

HSBC has appointed Paul Gooding as its head of European renminbi business development, a newly created role for the bank. Gooding will lead HSBC’s efforts in building an offshore renminbi centre in London to complement Hong Kong, which already has an established role in Asia.

Gooding, who is based in London, has been HSBC’s head of European credit trading for the past seven years. In his new role, he will be educating clients and liaising with regulators on the offshore renminbi.

His appointment comes shortly after George Osborne, the British chancellor, inked a deal with Hong Kong in January to turn London into a trading...