Cripps chosen for leading HSBC Australia job

HSBC Australia selects Tony Cripps to head its merged banking and markets business.

HSBC Bank Australia said on Monday that it had appointed Tony Cripps as head of global banking and markets in Australia. The position combines two previously separate banking and markets departments, and Cripps will take up his new role immediately.

Cripps had been head of markets while the banking division was led by Janie Wanless. "While the new structure was been planned for some time, Janie has left the organisation to pursue other interests in the meantime," commented an HSBC spokesperson. 

As part of the new structure, Chris Russell, previously head of multinationals at HSBC in Australia, has been appointed head of client management, global banking, HSBC Australia, reporting to Tony Cripps.

Cripps has 250 people in his department, and will himself report directly to Paulo Maia, chief executive officer of HSBC Bank Australia.

The merged global banking and markets business now includes sales and trading for foreign exchange, rates, credit and structured derivatives, balance sheet management, debt finance and advisory, institutional wealth management, and is also responsible for HSBC Securities Services and relationship management of the bank's global corporate and institutional clients.

"Integrating global banking with global markets will bring greater alignment across coverage and product areas and a more seamless experience for our clients in Australia", said the spokesperson.

Commenting on the appointment, Maia said: "Tony's extensive global experience with the HSBC Group, spanning some 20 years in Australia, Hong Kong and London, will enable us to connect relationships and products on a global scale and offer a more seamless experience for our global clients."

Cripps, an Australian national, was previously head of global markets for HSBC Bank Australia and from 2004 to 2006 he was global head of the bank's e-commerce, corporate investment banking and markets in London. He has also held positions with HSBC in Hong Kong, having joined the group in 1986.

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