Three months after the September melodrama of HSBC's management reshuffle, which led to the departure of Michael Geoghegan and promotion of Stuart Gulliver to chief executive, the UK bank has revealed who will become the new head of investment banking.

Samir Assaf, who was global head of markets, has been promoted to the post of chief executive of global banking and markets, where he will join the group management board, reporting into Gulliver. His role will begin on January 1, 2011.