News

HSBC appoints Middle East CEO

HSBC DubaiGlobal bank HSBC has named Stephen Moss as the chief executive for the Middle East North Africa and Turkey (Menat) region. Moss will relocate to Dubai take up his role which, subject to regulatory approval, will commence in April. Reporting to group chief executive, Noel Quinn, his role will include overseeing HSBC’s relationship with Saudi British Bank in which it holds a minority stake. HSBC has also announced the appointment of Mohammed Al Marzouqi as head of global banking in its UAE business. The moves are part of a strategic shift announced by HSBC which involve a retreat from Europe and the US and a greater focus on emerging markets such as Asia and the Middle East. “Given our extensive heritage in the Middle East and its long-term growth potential, we are extending our strategic ambitions for the region,” said HSBC. ©2021 funds global mena

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