HSBC Brasil Head Swaps Banks

Conrado Engel has resigned as CEO of HSBC Brasil, HSBC says, and will join Santander Brasil as vp of retail operations, according to local press reports. Engel has been CEO since 2009, and will remain as an advisor to HSBC until the end of the month. HSBC does not disclose the reason for Engel’s departure, but says it has started the search for his successor.