Frederic Boillereau has left his position as head of global FX and commodities and head of global markets corporate services, at HSBC.
Based in London, Boillereau leaves after 20 years at the bank.
“I would like to take this opportunity to thank Frederic for his significant contribution since joining HSBC 20 years ago. His efforts have ensured the FX and global markets corporate services businesses are better placed to serve our client base with the products and services they need. I wish him well for the future,” says Thibaut de Roux, head of global markets at HSBC, in an internal memo seen by Profit & Loss.
In the memo, which was distributed internally at the bank on Friday, Rahul Badwar was named as the new head of global markets corporate services, with the FX and commodities team to be led separately going forward.
“I believe the two businesses will benefit from a restructure resulting in separate leadership,” says de Roux in the memo, which notes that the new head of FX and commodities will be named “in due course”.
Badhwar joined HSBC more than 20 years ago from business school in Mumbai. He has held sales roles in Dubai, Hong Kong and London. In 2007, he was appointed head of corporate sales for APAC (excluding Greater China), and in 2016 became global head of corporate treasury solutions, relocating to London.
A spokesperson for HSBC confirms the contents of the memo.