HSBC replaces Stringham with Reuters chief
HSBC has appointed Alex Hungate to the new role of global head of personal financial services and marketing. Hungate joins in September from news service Reuters, where he was Asia managing director.
He will be based in London reporting to HSBC group chief executive Michael Geoghegan. Hungate, who will be group managing director of the two departments, also becomes a member of the 10-strong global group management board.
Marketing Week revealed in March that the global bank was looking to create a board-level marketing director position to replace group general manager of marketing Peter Stringham, who is now global chief operating officer of marketing services group Young & Rubicam Brands (MW February 22).
Hungate will combine leading the bank’s personal financial services operations with its marketing function, overseeing advertising, sponsorship and customer marketing activities. HSBC has a £340m global advertising account, which is handled by a WPP Group-wide “Team HSBC”, engineered by Stringham. It is unclear if Hungate’s appointment will affect its agencies.
A HSBC spokesman says Hungate’s “top priority” in personal financial services is to “connect” the bank’s operations around the world. He has been charged with selecting products, services and technologies from HSBC’s 83-market network and implementing them globally as well as creating new services.
As Reuters’ managing director, Asia Hungate led the company’s expansion in the region. Previously he was chief marketing officer.
Hungate says: “In this role, with its combination of global leadership of the personal financial services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC brand.”