HSBC Holdings PLC named Chris Salmon global chief control officer for global markets, according to an internal memo.

He succeeds Kevin Sawle, who is retiring at the end of 2018.

Since 2014, Salmon has served as the Bank of England's executive director for markets, and was involved in developing the global code of conduct for foreign exchange markets which was launched in 2017, HSBC noted.

Salmon will join HSBC in September. In his new role, his responsibilities will include ensuring consistent governance of risk across the bank's global markets platform as well as monitoring and remediating control failures. Based in London, Salmon will report jointly to Thibaut de Roux, global head of markets, and Rupert Jolley, chief control officer for global banking and markets.