(Bloomberg) -- HSBC Holdings Plc hired Deutsche Bank AG's South Africa country head Muneer Ismail to run its operations in the country.
He started in his Johannesburg-based CEO role on Nov. 2, HSBC said in an emailed statement. The lender's main activities in South Africa include global and commercial banking and markets.
Ismail was previously the CEO, chief country officer and head of global markets for Deutsche Bank South Africa, a role he'd held since 2016. He joined the German lender in 2004.
“We believe that Muneer's impressive track record and deep experience in South Africa will be of great benefit to our clients and strengthen our position in key market segments,” Chris Davies, deputy CEO for continental Europe at the bank, said in a statement.
HSBC overtook Deutsche Bank as the fifth-biggest arranger of bond sales in the southern Africa region this year, where issuers have borrowed a total of $47 billion since 2015, according to Bloomberg league tables data.
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