Mike Bussey, formerly chief executive at HSBC Republic, the private banking arm of HSBC, is set become chief executive of both Schroder & Co and the group's global private banking operations.

Bussey is set to start in April. He will report to Andrew Sykes, chairman of Schroder & Co, the private banking subsidiary of Schroder. Bussey has been working for HSBC for the past 20 years, most recently as chief executive for the private banking operations in Europe and the Middle East.