HSBC Names Karim Tannir as MENAT Head of Banking
People | Feb 05, 2025 | Zawya
HSBC Holdings has appointed Karim Tannir as the Head of Banking for the Middle East, North Africa, and Turkey (MENAT), according to an internal note seen by Zawya. This appointment is part of HSBC's strategic restructuring plan, which involves exiting several global markets and focusing instead on investment banking and wealth management services, particularly in the Middle East and Asia. Tannir has over 30 years of experience, previously spending 25 years at JP Morgan in the Middle East before joining HSBC in 2023 as Vice Chairman of Global Banking MENAT. In his new role, Tannir will report to Selim Kervanci, who oversees HSBC's operations across the MENAT region, and Jo Miyake, head of the banking division across Asia and the Middle East. HSBC has been a leader in the MENA region for equity capital markets (ECM) and debt capital markets (DCM) for the past four years. According to LSEG data, HSBC earned the highest investment banking fees in MENA during 2024, totaling $107.3 million and accounting for 7% of the fee pool. The bank was the second largest in MENA ECM deals after EFG Hermes, with proceeds reaching $2.3 billion.
Sectors
- Banking and Finance
- Investment Banking
Geography
- Middle East and North Africa (MENA) – The article is centered around HSBC's activities and market position in the MENA region and the appointment of the new head of banking for MENAT.
- Asia – HSBC's strategic emphasis on expanding investment banking and wealth management services in Asia is part of their restructuring plan.
- Turkey – Included in the MENAT region, Turkey is part of the geographic focus for HSBC's banking operations under Karim Tannir.
Industry
- Banking and Finance – The article discusses HSBC, a major player in the banking and financial services industry, and its focus on investment banking and wealth management.
- Investment Banking – The focus on investment banking services in the Middle East and Asia highlights the industry's role in HSBC's strategic priorities.
Financials
- $107.3 million – Total investment banking fees earned by HSBC in MENA during 2024, accounting for 7% of the total fee pool.
- $2.3 billion – Proceeds from MENA ECM deals in which HSBC was involved, ranking second after EFG Hermes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HSBC Holdings | Employer | Company | A leading global bank that is focusing on investment banking and wealth management in the Middle East and Asia. |
| Karim Tannir | Appointee | Person | Recently appointed as the Head of Banking, MENAT at HSBC, with extensive experience in the region. |
| JP Morgan | Former Employer | Company | A global financial services firm where Karim Tannir previously worked for 25 years in the Middle East. |
| Selim Kervanci | Regional Head | Person | Leads HSBC's business across the MENAT region. |
| Jo Miyake | Functional Manager | Person | Head of the banking division across Asia and the Middle East for HSBC. |
| EFG Hermes | Industry Competitor | Company | A financial services company leading in MENA ECM deals, ranked higher than HSBC. |
| LSEG | Data Provider | Company | Provider of financial information and data cited in the article regarding HSBC's fees and market ranking. |