HSBC has appointed a new chief executive of retail banking and wealth management, who will be in charge of an IT standardisation programme in those divisions.
Paul Thurston, currently head of HSBC UK, will take the new role on 1 March. HSBC’s chief technology and services officer, Ken Harvey, will report to him on the initiative.
HSBC is currently standardising products, processes and technology. It is moving onto global SAP enterprise resource planning systems, Experian Connect+ data aggregation and Experian Strategy Management software, and other technology.
The bank has said that the One HSBC initiative was helping it “achieve global standardisation around our risk management processes, obtain greater efficiencies and improve the customer experience”.
It said that efficiency “will be enhanced by taking full advantage of local, regional and global economies of scale, in particular by adopting a common systems architecture wherever possible”. This would also help with central control and governance.
The bank will also use the systems to achieve better operational information, and stronger data on the customers it lends to.
Announcing Thurston’s appointment, HSBC said he “will lead the development of HSBC’s retail wealth management business across the group and will also direct the transformation of retail operations and technology platforms”.
A spokesperson said the bank was three-and-a-half years through the five year One HSBC initiative, and that it was continuing to improve “cost efficiency” and introduce “consistent processes and systems”.
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