Retail Banking News Updates, April 18th 2012

KDB takes over HSBC’s South Korean retail operations
HSBC Holdings has agreed to sell its South Korean operations to Korea Development Bank in a move which will see KDB take over all of HSBC’s deposits and mortgage-lending bonds and 11 branches and debts from HSBC.

BAML CIO Gordon to be replaced by Readhead
Bank of America chief information officer Marc Gordon has resigned from his position at the bank, and is to be replaced by consumer banking executive Lauren Readhead, who will now report to Cathy Beasant, head of global technology and operations.

Westpac to open first branch in India
Westpac looks set to extend its presence in India by announcing the imminent opening of its first branch in Mumbai, after receiving a banking licence from the Reserve Bank of India.

Re-disseminated by The Asian Banker