Investment officer Matthew Westerman departs HSBC


Matthew Westerman, HSBC’s co-head of global banking, is leaving the British bank, less than two years after his high-profile arrival from Goldman Sachs.

HSBC did not give any reason for his departure in an internal memo from Samir Assaf, chief executive of HSBC’s global banking and markets and seen by IFR.

Assaf said Matthew Westerman had made a “significant contribution” to re-shaping the global banking business alongside his co-head Robin Phillips.

They had “together driven improved financial and market share performance and reinvigorated our approach to collaboration in global banking and markets, as well as across commercial banking,” the memo said.

Phillips will assume day-to-day management of the business after a period of transition, the memo said.