HSBC has named a former auditor of the bank as its new head of global regulatory compliance on Monday in the latest move by Europe's biggest bank to beef up its compliance functions.
In the meantime, the news agency reports that JP Morgan Chase said the heads of its French business and its financial services business for investment banking in Europe are to swap roles.
Kyril Courboin will become head of JPMorgan in France and Isabelle Seillier, who is currently in that role, will take Courboin's position as head of financial institutions for its investment bank for Europe, the Middle East and Africa.
And Bloomberg reports that JPMorgan Chase has named former UBS banker Hussein Hassan to head global Islamic finance as the biggest U.S. lender strives to boost its share of an industry whose assets are set to double by 2015.
New York-based JPMorgan said Hassan, previously global head of Islamic structuring for UBS, would focus on clients in countries including Saudi Arabia and Malaysia, according to an e-mailed statement today. Malaysia hosts the world’s biggest market for Islamic bonds, or sukuk, while Saudi Arabia boasts the world’s biggest share of Shariah-compliant assets.
Finally, Bloomberg reports that Oleg Vyugin, a former head of Russia’s markets watchdog, will join Morgan Stanley in Moscow as a senior adviser.