HSBC has hired its successor to Matthew Westerman, the executive who unexpectedly quit as co-head of the group's traditional investment banking business almost a year ago.

Greg Guyett will join HSBC to become co-head of global banking alongside the under-fire Robin Phillips, according to a person familiar with the matter. Guyett is a former JPMorgan veteran who spent more than 20 years with the US bank, much of which in Asia.