HSBC appoints new CEO for its local operations

Wednesday 01 February 2017

HSBC has appointed Tracy Garrad as the Chief Executive Officer (CEO) for the Bank’s operations in the Channel Islands and the Isle of Man. Tracy Garrad is currently the Chief Executive Officer of first direct.

She succeeds Ewan Stirling, who is retiring after more than 31 years with HSBC.

Based at HSBC International’s headquarters on The Esplanade in Jersey, Ms Garrad will oversee the local retail and commercial bank, HSBC Bank International as well as the Private Banking and Trust businesses of the HSBC Group in the Channel Islands and Isle of Man.

She was appointed Chief Executive of first direct in May 2014, the first female to hold the position in its history.

Commenting on the appointment, Chris Davies, CEO Europe International at HSBC, said: “I’m delighted to welcome Tracy into this key role. Tracy is an experienced leader with a track record of achieving excellent service for customers. She is very well positioned to continue HSBC’s successful business strategy in the Channel Islands and the Isle of Man, which are an important part of our European business. I would like to express my gratitude to Ewan for his considerable contributions to HSBC, wishing him all the best for a long and healthy retirement.”

Ms Garrad said: “I’m delighted to be leading the Bank in its business strategy across the Crown Dependencies. We are committed to providing key banking and lending services to people across the islands and beyond and supporting local businesses with their expansion plans by drawing on our international network. Having had the privilege of working in many vibrant overseas markets previously, I’m excited to be bringing that knowledge to the islands. I look forward to building on the good work of the team here, and maintain HSBC's leading position in the market."

Tracy Garrad’s appointment will be effective in mid-February and is subject to regulatory approval.