HSBC has promoted 46 employees from its global banking and markets businesses to the rank of managing director, including 18 in the UK.

The bank announced the annual promotions in a memo to staff, seen by Financial News, earlier this week. The total global promotion round across all levels of seniority at the unit stood at 760, according to the memo, which was signed by Samir Assaf, HSBC's chief executive of global banking and markets.