James Boulton, UK marketing director at HSBC, has resigned from his position with immediate effect. It is understood that he does not have another job to go to.
A recruitment process to find a replacement has started. In the interim, Boulton’s responsibilities will be shared between UK head of marketing Philip Mehl, Mark Mullen, head of marketing at telephone and online bank First Direct and M&S Money marketing head Amanda Newman.
Boulton was appointed in 2005 and was responsible for the HSBC, First Direct and M&S Money brands. He was poached from rival HBOS where he was head of customer and brand strategy.
He has also held senior marketing positions at PepsiCo Walkers Snack Foods and Unilever.
HSBC, which has not taken Government funds, is one of the largest financial services institution’s in the world and uses the strapline “The world’s local bank”.
It has not been immune to the problems besetting the sector, announcing last September it is to cut 1,100 jobs globally.