HSBC signaled a fresh effort to turn around its lagging US business by hiring Citigroup veteran Michael Roberts to succeed Patrick Burke as chief executive of HSBC USA when he retires later this year.

Burke, 57 years old, has held the job since 2014 and has been with HSBC since 1989. Roberts, 58, has worked as Citi’s chief lending officer and its global head of corporate banking and capital management. He has been at Citi for 34 years.