HSBC Holdings has appointed Karim Tannir as Head of Banking for the Middle East, North Africa, and Türkiye (MENAT), as the bank accelerates its strategic focus on investment banking and wealth management in key growth regions. The appointment was confirmed in an internal memo seen by Zawya. Â
Tannir, who joined HSBC in 2023 as Vice Chairman for Global Banking MENAT, brings over three decades of experience, including 25 years at JPMorgan in the Middle East. He will report to Selim Kervanci, CEO of HSBC’s MENAT operations, and functionally to Jo Miyake, the bank’s Head of Banking for Asia and the Middle East.
The appointment comes as HSBC exits non-core markets to concentrate on high-growth regions such as the Middle East and Asia. The bank’s strategy is paying off in MENA, where it has maintained leadership in equity and debt capital markets (ECM and DCM) for four consecutive years.
In 2024, HSBC earned $107.3 million in investment banking fees in MENA, capturing a 7% share of the total fee pool, according to LSEG data. The bank ranked second in MENA ECM deals, trailing only EFG Hermes, with $2.3 billion in proceeds.
Tannir’s leadership is expected to solidify HSBC’s presence in the region further, leveraging its existing strengths in ECM, DCM, and advisory services to expand its market share. The bank’s focus on key sectors such as energy, infrastructure, and financial services aligns with the region’s ongoing diversification efforts, particularly in the Gulf states.
HSBC’s strategic pivot toward Asia and the Middle East reflects broader trends in global banking, as major financial institutions shift resources to regions offering growth opportunities amid slowing markets in Europe and North America. Tannir’s appointment is seen as a critical move in consolidating HSBC’s regional dominance and capturing new business in MENA’s expanding capital markets.
