I. Malcolm Burnett, the chief executive officer of HSBC's U.S. unit, will retire at yearend, the company confirmed Monday.

Youssef Nasr, 48, chief executive of HSBC Bank of Canada, will succeed Mr. Burnett, 52.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.