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HSBC names Guy Hamilton as Central and Eastern European head

Hamilton, whose remit is across all banking services, is focusing on the markets of Czech Republic, Slovakia Poland and Hungary, HSBC spokesman James Pieper told Bloomberg yesterday.

HSBC Holdings Plc, Europe's biggest bank by market value, said it named Guy Hamilton in the new position of central and eastern Europe head as the bank seeks expansion in the region's fastest-growing markets. Hamilton moved from the position of head of HSBC International, the unit which provides offshore banking services for wealthy individuals and expatriates. Hamilton, who took up his position at the end of August, reports to European Chief Operating Officer David Budd. “He will look at how best to place HSBC in the region across all business lines,” said Pieper. HSBC has recently focused on the expansion of its commercial unit in European emerging markets, targeting domestic companies which have revenue of more than $10 million and are expanding internationally, as the unit's profit growth lags that in the Asia and North America commercial divisions. (HAM)