Citigroup Veteran to Take Over HSBC's U.S. Business

Date : 07/09/2019 @ 12:54AM
Source : Dow Jones News
Stock : Hsbc Holdings Plc (HSBA)
Quote : 607.4  9.4 (1.57%) @ 11:35PM
Hsbc share price Chart

Citigroup Veteran to Take Over HSBC's U.S. Business

HSBC (NYSE:HSBC)
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   By Allison Prang 
 

The head of HSBC Holdings plc's (HSBC) U.S. operations is retiring and will be replaced by Citigroup Inc. (C) veteran Michael Roberts, the London-based company said Monday.

Patrick Burke has been with HSBC since 1989 and is currently CEO and president of HSBC USA. Mr. Roberts has worked as Citigroup's chief lending officer and its global head of corporate banking and capital management. He has been at Citigroup for 34 years.

Mr. Roberts will also become a group managing director at HSBC.

The transition will happen in October, but the company didn't provide specific dates.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

July 08, 2019 12:39 ET (16:39 GMT)

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