HSBC said on Tuesday that Gerry Keefe has stepped down as head of banking for Europe and the Americas, a departure that marks another senior exit following the firm's global reshuffle announced in 2024. The change was communicated in an internal memo, and a company spokesperson confirmed the personnel move.
Jo Miyake, who currently heads the bank's Asia and Middle East banking unit, will assume Keefe's responsibilities on an interim basis, HSBC said. Keefe had been in charge of the bank's commercial and investment banking activities across Europe and the Americas for roughly one year.
Keefe joined HSBC in 2021 after moving from Citigroup, where he previously served as head of banking for the Americas. His recruitment was part of a series of high-profile hires intended to strengthen HSBC's U.S. dealmaking capabilities. He is the latest senior banker to leave since the bank launched a global overhaul in 2024.
The personnel change comes against the backdrop of a broader strategic shift at HSBC. In a significant restructuring aimed at reorienting the group toward Asia, the bank announced plans to wind down parts of its mergers and acquisitions and certain equities businesses located in the Americas and Europe in early 2025. That process is already underway as the firm refocuses resources and adjusts its footprint across regions.
Last September, HSBC's former head of U.S. banking, Lisa McGeough, departed the bank to join Deutsche Bank. McGeough's exit was noted at the time as part of a series of senior moves in the bank's international franchise.
The appointment of an interim head for Europe and the Americas places day-to-day oversight of those businesses temporarily under Jo Miyake, while the bank proceeds with its restructuring and any subsequent executive decisions. HSBC confirmed the interim appointment through its spokesperson.
The bank's statement did not provide further detail on the circumstances of Keefe's resignation or on a timeline for a permanent replacement. It also did not elaborate on any immediate operational changes tied to the leadership transition beyond the interim appointment.
Context and immediate facts:
- Gerry Keefe resigned as head of banking in Europe and the Americas; the bank confirmed the departure in an internal memo and through a spokesperson.
- Jo Miyake was named interim head of banking for Europe and the Americas; she currently leads HSBC's Asia and Middle East banking business.
- Keefe had taken the role roughly a year earlier and had joined HSBC from Citigroup in 2021; HSBC has been winding down certain M&A and equities activities in the Americas and Europe in early 2025 as part of a broader pivot to Asia.