HSBC appoints new Australian CEO

HSBC executive Kaber Mclean – who has previously been president and CEO of HSBC Japan (2012-2016) and has more recently held regional roles, including head of wholesale credit and market risk, Asia Pacific, and head of remediation office, Asia-Pacific – will take up the role from 1 March 2020 (subject to regulatory and immigration approvals).

Mr Mclean first joined HSBC in 1996 and has held senior leadership roles across the Asia-Pacific, North American and European regions.

In his new role, the incoming CEO will have responsibility for leading HSBC’s next phase of growth in Australia as it seeks to continue expanding market share and revenues across retail banking and wealth management, commercial banking and global banking and markets.

Mr Mclean will succeed Noel McNamara, who has been interim chief executive officer since June 2019. Mr McNamara will continue as chief risk officer, HSBC Australia, once the new CEO takes up his position. 

Commenting on the appointment, Peter Wong, deputy chairman and chief executive of The Hongkong and Shanghai Banking Corporation (HSBC) Ltd, said: “I am delighted that Kaber will be leading our Australian business, which is a priority international market for HSBC. 

“We have strong growth ambitions in Australia, and Kaber brings the right breadth of experience, strong leadership capabilities and deep knowledge of our international network. 

“I would also like to thank Noel for his significant contribution over the past eight months, and for the exceptional leadership he has shown during an important period for the bank,” he said.

The bank has said that it has commenced a new three-year strategic plan for Australia that aims to “capture growth opportunities across its universal banking model, building scale in retail banking and increasing wholesale banking revenues by tapping a greater share of international business activity, targeting growth sectors of the economy and addressing growing demand for sustainable finance”.

[Related: HSBC leads non-majors’ charge in mortgage space]