HSBC's major shift towards Asia will not mean scaling back in the UK, according to the co-head of its global banking and markets unit, who plans to hire dealmakers with the flashiest executive contacts to land more big ticket transactions.

As the broader business reels from a sweeping overhaul that will see thousands of jobs cut, Greg Guyett, co-chief executive of global banking and markets at the UK lender, told Financial News that any reductions in his unit will unlikely hit “frontline” staff. He wants to hire big bankers in key sectors and countries.