HSBC has hired Pablo Sanchez from JPMorgan Chase as head of retail banking and wealth management in the US and Canada.

Sanchez, whose appointment is effective 1 June 2015, will replace Kevin Newman, who will be retiring after a 25 year at HSBC. He will be based in New York City.

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Sanchez will be responsible for heading the US retail banking and wealth management unit, which includes mortgage and insurance, as well as will be oversee the same business in Canada.

Sanchez, who joined JPMorgan in 2006, was most recently national director of consumer banking.

Prior to that, he served in executive roles at Home Loan Direct and in lending, mortgage, and retail operations at CitiMortgage.

Commenting on the appointment, HSBC USA president and CEO Patrick Burke said: "Pablo’s proven leadership skills and retail banking experience will be invaluable as we focus on further developing our Premier, Advance and Wealth Management offerings and expanding the customer base."

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