HSBC New Zealand says Chris Russell is its new chief executive, succeeding Noel McNamara who has been in the job since 2011.
Russell has moved across from HSBC Australia where he was most recently head of banking. He has worked for HSBC since 2005, and prior to that was director of agri-business at BNZ's parent, National Australia Bank. Russell, who has a Bachelor of Business in Accounting from the University of South Australia, has also worked for Barclays Bank Australia.
In his new role Russell reports to Jayant Rikhye, HSBC's group general manager and head of international for the Asia-Pacific and head of strategy and planning for the Asia-Pacific.
“HSBC has been operating in New Zealand since 1987 and Chris’ appointment underlines our ongoing commitment to the country as an important market in the bank’s extensive international network. Chris’ wealth of banking experience will ensure HSBC continues building its business in New Zealand by connecting our internationally-focused client base to opportunities abroad, and supporting their global and local banking requirements," Rikhye said.
In 2012 HSBC strenuously denied a Financial Times report suggesting it was set to leave New Zealand.
The outgoing McNamara relocates to HSBC Australia where he'll be chief risk officer. Russell's appointment has been approved by the Reserve Bank.
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