HSBC has underlined its emerging markets focus by shifting one of its most senior bankers to plug a gap at the helm of its Asian business, in a move that will mark the first time the region has had more than one representative on the bank’s top executive board.

Sandy Flockhart was today appointed chief executive of HSBC's Asian business, filling the gap left after Michael Smith left last week to join Australia and New Zealand Banking Group. Flockhart will take up his new role next month.