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[LONDON] Stephen King stepped down as HSBC Holdings Plc's global chief economist and was succeeded by Janet Henry, previously the bank's chief European economist.
Mr King, who served as chief economist for 17 years, will remain at the institution as senior economic adviser. Henry helmed European economic coverage since 2007 having previously worked as a global economist and in Hong Kong as an Asian economist.
"In his new capacity, Mr Stephen will work a three-day week and continue to publish on key economic themes," the bank said in an announcement to staff.
"He will service a carefully targeted list of HSBC's key strategic clients around the world and speak at selected HSBC conferences."
Mr King has published two books on economics and is working on a third.
The shifts, which took effect at the end of last week, were first reported by Reuters.