Mark Boyne has taken on a new role in HSBC's corporate, investment banking and markets (CIBM) division. He moves up from a role as COO in Global Markets to become COO (chief operating officer), CIBM, Asia-Pacific.
The appointment comes at a time when HSC is making global changes to the structure and management of CIBM support services. The bank has already put someone in the US to fulfil the COO role - Robin Jones - and is planning to do likewise in Europe and the Middle East.
In his new role, Boyne's responsibilities will include maintaining cost control across the bank's Markets, GIB, CIB, GTB and research businesses in Asia-Pacific. He will also drive specific productivity and/or re-engineering initiatives, particularly in the CIBM support functions.
The new position will entail close interaction with HSBC's business-line heads in Asia-Pacific in order help them to manage direct costs and ensure value for money for charged services.
Boyne will report to David Burnett, global COO for CIBM and will continue with his former responsibilities in the Markets division until a replacement is found. His HSBC career has also included a stretch in the bank's Thailand treasury department.
