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HSBC’s Global Banking Co-Head Leaves After 18 Months

LONDON—HSBC Holdings PLC’s global banking co-head, Matthew Westerman, will leave after a turbulent 18 months at the bank, staff were told in a memo Thursday.

Mr. Westerman had been hired from Goldman Sachs Group Inc. in February 2016 by departing HSBC Chief Executive Stuart Gulliver, and started at the bank that May. His sudden departure leaves Robin Phillips as the sole head of the global banking unit. No reason was given for his departure.

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