The U.S. subsidiary of HSBC Bank has a new leader of the retail banking and wealth management business.

Pablo Sanchez assumed his new role on June 1. He was formerly the national director of Consumer Banking at J.P. Morgan Chase, the bank announced in a press release on Tuesday. 

In his new role, Sanchez will lead the U.S. Retail Banking and Wealth Management business, which includes mortgage and insurance, and will have oversight responsibility for the same business in Canada, HSBC said.

"Pablo's proven leadership skills and retail banking experience will be invaluable as we focus on further developing our Premier, Advance and Wealth Management offerings and expanding the customer base," Patrick Burke, president and CEO of HSBC USA, said in the announcement. 

Sanchez, who is based in New York City, succeeds Kevin Newman, who will be retiring this year after an international HSBC career spanning 25 years, HSBC said.

Sanchez had been with J.P. Morgan Chase since 2006 and held a number of retail banking leadership roles while there.  Before that, he held executive positions at Home Loan Direct and in lending, mortgage and retail operations at CitiMortgage, according to HSBC.

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