Published by Global Banking & Finance Review®
Posted on December 17, 2024
1 min readLast updated: January 27, 2026
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HSBC appoints John Shipman as interim CEO of Swiss Private Bank, effective January 1, 2025, amid a restructuring to streamline costs.
(Reuters) - HSBC on Tuesday appointed insider John Shipman as interim CEO of its Swiss Private Bank and country head of HSBC Switzerland, effective Jan. 1, 2025.
Shipman succeeds Gabriel Castello, who was appointed earlier this month as interim CEO of HSBC's global private banking, following a broader restructuring by CEO Georges Elhedery to streamline costs and improve decision-making.
Shipman, who spent over six years as chief risk officer at HSBC's Swiss Private Bank, will continue to report to Castello.
HSBC is the largest foreign-headquartered private bank in Switzerland by client assets.
In October, HSBC unveiled a plan to merge some operations and split its geographic footprint into East and West, removing duplicate roles as it focuses on Asia to cap costs and bolster income.
The recent revamp, one of the largest in years for the London-headquartered bank, has seen a steady flow of senior managers depart in recent weeks as Elhedery sought to create a simpler and more dynamic organisation.
(Reporting by Nilutpal Timsina in Bengaluru and Dave Graham; Editing by Vijay Kishore)
The main topic is HSBC's appointment of John Shipman as interim CEO of its Swiss Private Bank amid a broader restructuring.
John Shipman is the newly appointed interim CEO of HSBC's Swiss Private Bank, previously serving as chief risk officer.
HSBC is restructuring to streamline costs, improve decision-making, and focus on Asia to bolster income.
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