HSBC Bank Malta p.l.c. announced that Andrew Beane will be relinquishing his post as Chief Executive Officer and Executive Director and will be taking up a new senior role within the HSBC Group as Chief of Staff and Transformation, Europe.

Simon Vaughan Johnson will replace Andrew as Chief Executive Officer and Executive Director of the bank, subject to regulatory approval.

Vaughan Johnson, an international banker with over 30 years of experience, is presently Senior Risk Management Executive and Member of the Executive and Risk Committees, HSBC France. He has served in a number of senior roles at HSBC Group, including as Chief Executive Officer of HSBC Bank Middle East Limited, Kuwait (2011 – 2015) and Regional Head of Commercial Banking, HSBC Middle East and North Africa (2009 – 2011). He has also occupied the position of Deputy Chief Executive Officer and Chief Operating Officer HSBC Uruguay (2002 – 2003), that of Chief Operating Officer and Director of HSBC Private Bank, Guernsey (2003 – 2005), Head of Global Transaction Banking, HSBC France (2005 – 2007) and Senior Executive, Global Commercial Banking, HSBC Hong Kong (2007 – 2009).

The Board of Directors has expressed its gratitude towards Andrew Beane for the dedicated and professional service he has given to the bank since November 2015.

John Bonello, Chairman of HSBC Malta, said: “I would like to pay tribute to Andrew, who was a catalyst of change during his tenure. He was pivotal in the successful execution of our risk management agenda and the restructuring process announced last October to deliver a modern, customer-focused banking experience. Thanks to Andrew and the team of executives he built around him, HSBC Malta is a stronger and safer bank. I take the opportunity to welcome Simon to HSBC Malta. I am confident that Simon’s professional skills and experience, which are underpinned by the right personal qualities, will seamlessly pave the way to the next phase for our bank.”

Simon Vaughan Johnson said: “I’m greatly looking forward to leading the HSBC franchise in Malta and to serving our customers, employees, shareholders and the wider community.  Building on the bank’s strong foundations and values, I shall be focused on supporting the HSBC Malta team to deliver safe but ambitious revenue growth, meeting the banking needs of our customers and maximising the opportunities arising from our unique competitive position as Malta’s leading international bank.”

Andrew Beane said: “Malta has always been a special place for my family and it has been a great honour and privilege to lead the bank these past years. We have changed HSBC Malta to ensure the bank is correctly positioned to thrive for the long-term and I am delighted to welcome Simon to lead this next phase. Building on the strong results we announced for 2019, later this year we will open our national flagship branch in Qormi, which is symbolic of our ambition for the future.  I am grateful to the Chairman and the Board for their support, to my colleagues for their hard work and dedication, and to our customers and shareholders for their trust.”