Peter Enns, a senior banker at HSBC , is leaving the lender next year to pursue a senior executive role outside banking, according to an internal memorandum. Enns joined HSBC two years ago as global head of its financial institutions group in London and relocated to Asia last year. Most recently, he served as global co-head of advisory and investment banking coverage. “He leaves both business areas in stronger franchise positions, with improved financial performance. I would like to thank Peter for his contributions to HSBC,” Greg Guyett, HSBC’s co-chief executive of global banking and markets, said in a memo seen by the South China Morning Post . HSBC will seek to replace Enns in Asia, according to the memo. Adam Bagshaw, global co-head of advisory and investment banking coverage, will assume his responsibilities when Enns departs in the first quarter. The contents of the memo were confirmed by a HSBC spokesman. Separately, Steven Major, HSBC’s global head of fixed-income research, has relocated to Hong Kong from London as the bank seeks to bolster its business in the region. “Steve will continue to serve stakeholders and clients globally from Hong Kong, and will assist our business partners in further strengthening the Asia client franchise,” David May, HSBC’s global head of research, said in a separate memo seen by the Post . Before joining HSBC, Enns had a 21-year career at Goldman Sachs , serving as head of its Canada business, as well as stints in Asia and in the United States, before retiring from the American investment bank in 2017. During his time at Goldman, he acted as an adviser on Wells Fargo’s US$15.1 billion acquisition of Wachovia during the global financial crisis in 2008, and AIA Group’s initial public offering in 2010. Enns was hired by HSBC in October 2018 when it was facing criticism over the leadership in its investment bank and John Flint was seeking to put his stamp on the bank after replacing Stuart Gulliver as CEO. A leaked memorandum purportedly written by unnamed HSBC executives in August of that year, which was widely circulated in London and in Hong Kong, called out the investment banking division , saying there was an “utter failure of leadership” in the business and that senior executives had “failed to create a successful strategy”. Flint was ousted as CEO in August 2019 and replaced by long-time HSBC executive Noel Quinn, who has reshuffled the company’s leadership in its investment bank . He has embarked on a massive restructuring programme designed to cut the bank’s annual costs by US$4.5 billion and eliminate 35,000 jobs over the next three years. HSBC is expected to reduce its headcount by about 10,000 positions this year. Under Quinn, London-based HSBC is putting greater focus on Asia, shifting capital away from less profitable businesses in Europe and the US. The lender is Hong Kong’s biggest currency-issuing bank and generates much of its profit in Asia.