HSBC today announced the creation of two new senior executive roles in its U.S. banking division.
The London-based banking giant has named Vivek Yadav chief administrative officer, and Jeremy Balkin as the new head of innovation, it said in a press release. Both roles are based in New York. They report to Pablo Sanchez, regional head of retail banking and wealth management in the U.S. and Canada.
The new positions are part of a larger overhaul for HSBC's retail operations in the U.S. that started in July 2015 when the company recruited Sanchez to lead the unit. He was previously the national director of consumer banking at JPMorgan Chase.
"My vision is to build the bank of the future enabling our customers to bank with us when, where and how they want to," Sanchez said in the release. "We're transforming our business in the U.S. and as we look to build on this momentum, we are investing over $131 million building the bank of the future."
Balkin joined HSBC in 2015 as its head of communications for the retail bank in the U.S. He also penned a book on the future of finance and serves as a founding mentor for fintech accelerator StartupBootCamp NYC. He will lead the development of fintech partnership opportunities in the U.S.
Yadav is a 12-year HSBC veteran who most recently led the project to relaunch business banking in the U.S. In his new role, he will help run the day-to-day business operations and business strategy in the U.S.