HSBC Holdings Plc has created a new top executive post to ensure successful execution of its ring-fencing plan, with Nigel Hinshelwood chosen to fill the position. Hinshelwood has been appointed UK unit head and HSBC Bank Plc deputy chief executive. In his new role, he will oversee retail, commercial and private banking and wealth management and will be in charge of separating HSBC's retail business into a ring-fenced bank.

Hinshelwood, an HSBC employee since 2005, currently holds the post of global head of operations.