HSBC Private Bank is pleased to advise that Declan Sheehan will take over from Mark McCombe as the Regional CEO for HSBC Private Bank in the UK and Channel Islands subject to the necessary regulatory approvals.  This follows the announcement by HSBC Group that Mark McCombe will be succeeding Alain Dromer as Head of Group Investment Businesses effective 31 March 2007.  Declan will remain responsible for HSBC’s global trust and estate planning business.  Declan joined HSBC in 2006, having been responsible previously for private banking businesses during his 18 year career with JP Morgan in Europe and Asia.
 
Commenting on the appointment Chris Meares, CEO for Group Private Banking said, “Declan Sheehan has a wealth of experience in the private banking industry and these two appointments will make HSBC Private Bank an even more powerful force in both the UK and global private banking following record pre-tax profits of USD1.2 billion in 2006”.
 
 “We are naturally sad to lose Mark after his second senior role in Group Private Banking” Chris Meares added.  “However I am delighted with his promotion and I am sure his appointment will lead to an even stronger relationship with the Group Investment Business as a supplier of competitive products for the Private Bank”.