HSBC reshuffles regional managers

HSBC Middle East reshuffles its top management, in a move that sees regional boss Simon Cooper promoted and relocated to London and investment banking chief Mohammad Al Tuwaijri heading the British bank's regional business.

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HSBC Middle East has reshuffled its top management, in a move that involves its regional chief executive Simon Cooper taking up the mantle of the bank's global head of commercial banking.

Mr Cooper, who has held the role of regional chief executive for four years, will relocate to London and has been promoted to group managing director at the British banking giant.

He will be replaced by Mohammad Al Tuwaijri, who will become the deputy chairman and chief executive of HSBC Middle East and North Africa from October.

Mr Al Tuwaijri is an 18-year veteran of HSBC and its affiliate Saudi British Bank.

A former pilot with the Royal Saudi Air Force, he is currently the regional head of global banking and markets, HSBC's investment banking division.

The reshuffle is the latest banking sector shake-up in a year during which four local lenders have replaced their chief executives.

National Bank of Abu Dhabi hired ANZ Group's Alex Thursby to replace Michael Tomalin, who retired as chief executive this month.

Emirates NBD hired Shayne Nelson to take over from Rick Pudner, who leaves the bank later this year. Meanwhile, Ajman Bank and RAKBank have also replaced their chief executives.