Gregory Garnier has been appointed as chief executive of HSBC Bank Bermuda Ltd.

Mr Garnier, whose appointment becomes effective on September 23, will succeed Steve Banner, who has served as CEO of the Bermuda business for six years.

The company said Mr Garnier joined HSBC 22 years ago in mergers and acquisitions in Paris and has led teams in France and the United States in a wide range of investment banking and global banking roles.

His most recent assignment was as CEO of HSBC Russia.

The company said Mr Garnier brings a strong client-facing background and is keen to continue to develop the Bermuda business in line with HSBC Group’s strategy.

Colin Bell, CEO, HSBC Bank plc and HSBC Europe, said: “I would like to congratulate Gregory on his appointment and to thank Steve for his successful leadership of the Bermuda business. During his tenure the Bermuda business has strengthened and is well positioned for further growth.”

Mr Garnier said: “I am looking forward to working with our colleagues in Bermuda, engaging with our clients and local stakeholders and continuing to build on the great work that has positioned the bank as the leading international bank and the bank of choice for customers.”

Tony Joaquin, chairman of the board for HSBC Bermuda, said: “We extend a warm Bermuda welcome to Gregory and his family from the local team. We look forward to working with him as we continue to leverage the many benefits our customers can derive from doing business with HSBC.

“Steve Banner has made significant contributions to the business over the last six years and on behalf of the board of HSBC Bermuda, I sincerely thank him for his strong leadership and the many ways he has ensured the bank is optimally placed to meet with future success.”