HSBC has appointed Christopher Chua as its global head of mergers and acquisitions (M&A), elevating him from his former role as head of M&A in Asia.

The move comes as former global head of mergers and acquisitions at the firm Kamal Jabre departed in to join JPMorgan as vice chair of M&A a month ago.

Chuan will immediately assume the new role and will continue to be based in Hong Kong, according to a note seen by Reuters and confirmed by a company spokesperson.

He joined HSBC in 2022, coming over from Credit Suisse to lead the bank’s M&A business in Asia, and brings over two decades of experience in cross-border dealmaking.

In his new role, Chua will be tasked with leading HSBC’s global M&A operations from Hong Kong, with a focus on Asia and the Middle East.

He will lead the M&A business in "Asia and the Middle East, an area of competitive strength where we provide significant value to our clients", Adam Bagshaw, the bank's global head of capital markets and advisory said in the memo.

The strategic shift comes a month after HSBC’s decision to downsize its efforts in Europe and the America, highlighting a focused pivot towards markets where the bank foresees potential for market growth with a sharper focus on Asia and the Middle East.

On 16 May, HSBC unveiled its restructured investment banking team, renamed as a capital markets and advisory business led by former Deutsche Bank dealmaker Adam Bagshaw.

The new structure focuses M&A and equity capital markets operations on Asia and the Middle East, with an emphasis on debt financing and private credit.

Jabre's departure represented the latest senior exit from HSBC as the UK lender continues overhauling its investment banking operations.

The bank announced earlier this year it would wind down M&A and equity capital markets businesses in the UK, Europe and the Americas as part of a strategy to scale back its global footprint and shift focus to Asia and the Middle East.

Other senior London-based bankers have also departed, with Citigroup hiring HSBC's global head of equity capital markets Ed Sankey to lead its ECM team in EMEA earlier this month.

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