HSBC Mexico Taps Banorte’s Pena

Luis Pena, who stepped down Tuesday as CEO of Mexico’s Banorte, has been named CEO of HSBC Mexico. Pena replaces Paul Thurston, who will return in May to the UK to run retail and commercial operations. Thurston also served as co-head of LatAm with HSBC Brazil CEO Emilson Alonso, who will in May be promoted to sole head. Shaun Wallis will take over from Alonso as Brazil CEO.