Simoes will have responsibility for HSBC's retail and commercial banking business in the UK. The appointment is subject to Board and regulatory approvals.
Simoes will continue to be a director of HSBC Bank plc and retain his role as Head of Retail Banking and Wealth Management (RBWM), Europe, reporting to Paul Thurston, Chief Executive, RBWM.
Joe Garner, currently Deputy Chief Executive, HSBC Bank plc and Head of the UK Bank has decided to stand down from his current role at the end of October, and leave the Group early next year. He will work closely with Antonio to ensure a smooth transition.
Brian Robertson said: 'I would like to thank Joe for the important contribution that he has made to HSBC over the past eight years, the last two as my Deputy and Head of the UK Bank. We wish him well for the future.
'Antonio has been instrumental in shaping and implementing HSBC's Group strategy and will provide that focus to develop the UK business further in a challenging and changing regulatory environment'.
Simoes joined HSBC in 2007 from McKinsey & Co, where he was a partner in their London office working in financial services. He led HSBC's Group Strategy and M&A activities and in October 2009 assumed responsibilities for Planning and Chief of Staff to the Group CEO, relocating to Hong Kong for two years. He was appointed a Group General Manager in 2011 and since the beginning of 2012 has led the Retail Banking and Wealth Management business for Europe.