HSBC has hired a Goldman Sachs partner to lead a new business combining its financing and client coverage teams alongside longstanding executive Robin Phillips – part of an overhaul creating a unit called global banking a decade after it first did so.

Matthew Westerman, who will join the UK bank later in 2016, returned to London last year as chairman of Goldman Sachs's investment banking business in Europe, the Middle East and Africa after three years running that business in the Asia Pacific excluding Japan. He has worked for the US bank since 2000, becoming a partner two years later.