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Report: HSBC set to appoint ex-JPMorgan exec as global banking co-head

HSBC Holdings PLC is set to appoint former JPMorgan Chase & Co. banker Greg Guyett as co-head of global banking, insiders told Sky News.

Guyett spent 30 years at JPMorgan in roles including co-head of Asia-Pacific banking as well as CEO of global corporate bank. His appointment at HSBC is subject to regulatory approval and is expected to be announced in the coming days, the sources said.

He will replace Matthew Westerman in the coming months and will work alongside existing global banking co-head Robin Phillips, according to the Oct. 11 report.

The news comes amid an ongoing dispute in HSBC's investment bank following the leak of an internal memo criticizing Phillips and demanding his ouster for presiding a period of "persistent failure."

The memo, which was sent to Chairman Mark Tucker and CEO John Flint, is being treated as a whistleblowing event by HSBC, Sky News noted.