HSBC appoints new CEO for its island operations

By By Duncan Foulkes Twitter: @iomexambiz in Business

HSBC has appointed Tracy Garrad as the chief executive officer (CEO) for the Bank’s operations in the Isle of Man and the Channel Islands.

Tracy is currently the chief executive officer of the online operation first direct.

She succeeds Ewan Stirling, who is retiring after more than 31 years with HSBC.

Based at HSBC International’s flagship headquarters on The Esplanade in Jersey, Tracy will oversee the local retail and commercial bank, HSBC Bank International as well as the private banking and trust businesses of the HSBC Group in the Isle of Man.

Tracy joined HSBC in June 2012, having spent 10 years at Banco Santander.

She moved from her role leading HSBC’s contact centre services for Europe and the Middle East to first direct in April 2013 to shape the three-year strategy.

Tracy was appointed chief executive of first direct in May 2014, the first female to hold the position in first direct’s history.

Chris Davies, CEO Europe International at HSBC, said: ’I’m delighted to welcome Tracy into this key role.

’Tracy is an experienced leader with a track record of achieving excellent service for customers.

’She is very well positioned to continue HSBC’s successful business strategy in the Isle of Man and the Channel Islands, which are an important part of our European business.

’I would like to express my gratitude to Ewan for his considerable contributions to HSBC, wishing him all the best for a long and healthy retirement.’

Tracy said: ’I’m delighted to be leading the Bank in its business strategy across the Crown Dependencies.

’We are committed to providing key banking and lending services to people across the islands and beyond and supporting local businesses with their expansion plans by drawing on our international network.

’Having had the privilege of working in many vibrant overseas markets previously, I’m excited to be bringing that knowledge to the islands. I look forward to building on the good work of the team here, and maintain HSBC’s leading position in the market.’

Tracy Garrad’s appointment will be effective in mid-February and is subject to regulatory approval.

Meanwhile, Elvina Aghajanyan has been appointed as head of human Resources (HR) for HSBC in the Isle of Man and the Channel Islands.

Elvina will lead the HR division of the Bank, driving business performance through growing the careers of HSBC staff and ensuring their experience at the bank is both rewarding and challenging, a key strategy for HSBC.

In line with developing the Bank’s local HR policy and establishing stronger and better HR operations, Elvina will also focus on talent management and succession planning for key roles and support staff with their career development through HSBC’s local and international networks.

With 20 years’ experience of working at HSBC, Elvina started as a cashier in a branch in her home country of Armenia and subsequently held a number of different roles supporting customers and managing teams across the retail banking area.

She then made the move into human resources, first in Armenia and then taking on senior HR roles with a Europe-wide remit.

Most recently and before assuming her new role in the Isle of Man and Channel Islands she was HR business partner based in Canary Wharf, HSBC’s head office, where she worked in the European HR central team and managed diverse HR projects impacting the European business.

Elvina said: ’This is an exciting time for HSBC across the Isle of Man and the Channel Islands, where we have a robust business growth strategy in place and long-term career development opportunities for talented and ambitious individuals.

’In particular, there is currently a Group-wide focus on regulatory compliance and fighting financial crime, and a number of roles have been created across all three islands as a result.

’Equally, it is incredibly rewarding to help existing staff achieve their personal development plans and progress within the business.’

I’m excited to be bringing that knowledge to the islands

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