New HSBC chief operating officer

HSBC Bank Malta has announced that chief technology and services officer Philip Farrugia will be retiring from the bank following 42 years of service.

Farrugia is being replaced in this executive post by Ranjit Gokarn as Chief Operating Officer with effect from 22 May 2012, subject to regulatory approval.

Gokarn has been an HSBC executive for the past 20 years and has worked in India, Singapore, Japan, the United Arab Emirates, United Kingdom and more recently France. In Paris, Mr. Gokarn was Senior Executive Continental Europe and responsible for eight countries in the region.