HSBC has announced the appointment of David Gardner as a Managing Director and head of project finance for the Asia Pacific region. Gardner will replace Murray Ashdown, who is leaving the bank after 22 years of service.

The two men will overlap for a couple of months, as Gardner takes up his post this month, while Ashdown will not leave until December in order to complete a couple of outstanding projects.

Gardner comes to HSBC from Sumitomo Mitsui Banking Corporation, where he spent nine years running the project finance team. Prior to this, he worked for the International Finance Corporation developing the multilateral's project programmes.

He will now be based in Hong Kong, running teams in Singapore, Sydney, Beijing, Mumbai and Hong Kong. Functionally, he will report to Richard Cole, CEO of project and export finance for Asia, and regionally to Stephen Williams, co-head of the Asian financing group.