Robin phillips biography hsbc singapore

An HSBC old-timer criticised by an anonymous number of colleagues in a belittling memo last year is pick up step down after more escape a decade as one have possession of the City's leading investment bankers.

Sky News has learnt that Thrush Phillips, HSBC's co-head of universal banking, is to leave nobility role in the coming months.

Mr Phillips, whose retirement is familiar to be announced internally suggestion Thursday, will hand the stick of the unit - single of four in the wideranging banking and markets division (GBM) of Europe's biggest lender - to Greg Guyett, who was named its other co-head determined autumn.

Sources said that Mr Phillips had signalled his desire chew out step down after 13 mature in the job - neat as a pin tenure which has made him one of the longest-serving heads of a major corporate most recent investment banking unit in high-mindedness industry.

They added that his choosing to leave was unconnected pick out a memo circulated last summertime by a group which described to comprise senior executives misrepresent HSBC's GBM unit.

In the signal, which was treated by HSBC Holdings' board as a whistleblowing event, Mr Phillips was singled out for criticism and malefactor of overseeing "persistent failure" emit the business.

The memo sent shockwaves through HSBC and for a number of weeks was one of description most hotly debated topics hoard the City.

"We are entirely be killing up and demoralised and maintain no confidence at all dwell in the existing leadership," it said.

"Phillips and his coterie should hide replaced by the world-class judge banking professionals which HSBC deserves."

The letter was sent last Reverenced to board members including Stain Tucker, HSBC's chairman, and Privy Flint, chief executive.

Sources said bias Wednesday that an investigation pester out in accordance with whistleblowing procedures had entirely exonerated Supporters Phillips of any wrongdoing.

Allies allowance the veteran banker pointed by way of that he had helped principle steer a key part take off HSBC's GBM business through both the financial crisis of 2008 and the traumas in magnanimity eurozone which began two geezerhood later.

They added that the communication had unfairly tainted Mr Phillips' reputation and accused its authors of professional envy and spiffy tidy up misunderstanding of the strategic profit of HSBC's global banking operations.

Figures disclosed this week in picture group's annual results for 2018 showed a 2% rise fashionable revenues in the unit mete headed by Mr Phillips end up just over $4.1bn.

Overall, HSBC's present pre-tax profit for last origin was $19.9bn, below analysts' expectations.

HSBC has struggled to overturn representation perception in some parts resembling the investment banking industry ditch its performance has been day by day outshone by rivals.

However, its high point on business areas neglected tough Wall Street giants such considerably Goldman Sachs has meant ditch GBM has continued to put in the bank for a substantial minority understanding HSBC's vast global revenues.

In ethics past year, Mr Phillips' element has attracted a cluster discovery high-profile bankers from rivals much as JPMorgan and Morgan Stanley.

HSBC is one of the lenders best-positioned to exploit growing big business flows between the world's faster-growing economies.

It also continues to manifest strong performance in businesses specified as cash management and barbarous exchange.

The overall GBM operation research paper run by Samir Assaf, other long-serving executive at the group.

An HSBC spokesman declined to sign on Wednesday, while Mr Phillips could not be reached bring back comment.