HSBC has appointed Richard Blackburn as its group chief risk and compliance officer on a permanent basis, confirming him in a role he has held temporarily since January as part of an ongoing senior leadership shake-up at the UK lender.

Blackburn, who has been with HSBC for over 20 years, will also serve on the Group Operating Committee, the bank's most senior decision-making body under chief executive officer Georges Elhedery.

The appointment comes as Elhedery continues to reshape HSBC's senior team since taking the helm. Elhedery has set targets to cut billions in costs and has simplified the bank's business into four key units, including combining its commercial and investment banking functions.

In a statement, Elhedery said that Blackburn had been "an excellent support and challenge" since taking on the role temporarily in January.

Blackburn brings 35 years of experience in the financial services sector to the position. Prior to his interim appointment, he served as Global Head of Traded and Treasury Risk Management and Global Head of Risk Analytics. His previous senior roles at HSBC include Regional Chief Risk Officer for Europe and MENAT, Chief Risk & Compliance Officer for Global Banking & Markets, and Chief Financial Officer for Global Markets.

Before joining HSBC, Blackburn worked as International Treasurer at GE Capital and as Group Treasurer at Henderson Asset Management.

The appointment is part of wider changes at HSBC under Elhedery's leadership. Michael Roberts has moved from heading the US business to leading the newly combined commercial and investment banking unit. More recently, the bank began searching for a new HSBC UK chief executive officer after Ian Stuart was moved to a newly created role overseeing customers and culture.

Blackburn is a Fellow of the Association of Corporate Treasurers and holds a Master's degree in Materials Engineering and a Diploma in Industrial Studies from Loughborough University. He is also a member of the Financial Markets Standards Advisory Board.

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