Maia to head HSBC Australia

HSBC continues to shuffle talent around the globe, bringing Paulo Maia across from Brazil to take on the bank's top job in Australia. Maia has been deputy CEO of HSBC in Brazil since April 2008. He has over 25 years' experience in banking across three continents -- other than Brazil, Maia has also spent time in the UK and the US.

"[Maia] brings to this role an intimate understanding of what it takes to grow HSBC's business in each of these banking sectors [retail, commercial and corporate banking] as well as valuable insight into the business opportunities for HSBC and its clients in both developed and emerging markets," said Sandy Flockhart, group CEO of HSBC Asia-Pacific, in a written statement.

The HSBC group has a network of 35 branches and offices in Australia, offering personal and commercial financial services, financial planning, trade finance, treasury and financial markets, payments and cash management, and securities custody. In 2008 HSBC grew pre-tax profit in Australia by 42% to $176 million from $124 million in 2007, a result Flockhart termed excellent, especially in light of the market turbulence.

Maia replaces Stuart Davis who was appointed CEO of the Hongkong and Shanghai Banking Corporation in India in April. Davis had been CEO of HSBC Bank Australia since February 2002. India is a key market for HSBC and it employs 37,000 people in the country -- 11% of its global workforce. In 2008 HSBC earned $666 million in India.

Davis took over in India from Naina Lal Kidwai, who was group general manager and country head. Kidwai moved to a newly created role as chairperson for HSBC India with responsibility for overseeing all of HSBC's investments in the country.

Earlier this month, HSBC promoted Conrado Engel to the role of CEO and president of the bank's Brazil business, transferring him from Hong Kong where he was regional director of personal financial services for HSBC in Asia-Pacific.