Nick Green, head of investment banking and markets at HSBC Indonesia, is to leave and move to Paris. His new role will be as chief operating officer in the front office for the treasury and capital markets division of HSBC's French subsidiary, CCF.
He is moving from his office on the bustling main street of Jakarta into an elegant 19th century building on the Champs Elysee.
In his two-and-a-half years running HSBC's markets business in Indonesia, Green has seen a remarkable growth in the volume of the onshore business, which encompasses fixed income and FX sales and trading, as well as the development of the local bond market.
Replacing him in Indonesia is Mandeep Singh, a 17-year HSBC veteran who has spent the last twelve years at HSBC's London office. Singh most recently focused on fixed income derivatives, an area which although small at present in Indonesia, looks likely to grow fast. He moves to the country at a time when all banks are reporting that business has never been better.
Steep falls in interest rates have been a boon to the trading side of the business, while economic growth is leading to renewed demand for credit, both corporate and consumer. HSBC recently came out top in a leading survey of foreign banks operating in Indonesia and so looks to have capitalized on this boom.