HSBC has appointed current Ireland CEO and Head of Banking Alan Duffy as its first Head of Sustainable Finance for Europe Commercial Banking.
In his new role Alan will drive HSBC’s efforts to help business customers in Europe make the transition to net zero carbon emissions. This is a key element of HSBC Commercial Banking’s strategy to be the leading international corporate bank in Europe, and is also part of the HSBC Group’s ‘Business Plan for the Planet’; a set of actions and a commitment of between US$750bn and US$1trn to drive sustainable transitions around the world.
Alan is widely acknowledged as a key figure in European sustainable finance, having led many signature transactions for HSBC customers. Alan said: “Europe is the gravitational centre for global sustainable finance, both in terms of setting policy and overall market activities. A rapidly increasing number of our European clients are establishing Science Based targets (SBTs) to anchor their transition journeys and to embed ESG in their operations. We must be positioned at the epicentre of this once-in-a-generation transformation.”
He added: “Being afforded the opportunity to help our teams support our clients in such a cutting edge and rich ecosystem is compelling. I am looking forward to drawing on the cultural diversity of our European business and the opportunity to help cross-pollinate ideas and best practice from within the region and from the wider HSBC Group.”
Following a number of years at Scotia Bank and ING, Alan joined HSBC in 2007 to launch its Irish corporate banking offering before becoming chief executive of the Irish branch in 2014. He will continue as CEO and Head of Banking at HSBC Ireland until a new appointment is made to that position, and he will remain based in Dublin.
Earlier this month HSBC appointed Natalie Blyth as its Global Head of Commercial Banking Sustainability. Natalie said: “Alan’s personal energy, his passion for sustainability and his deep understanding of European corporate banking will be a huge asset to our customers across the region. I’m delighted he’ll be on the team as we tackle the critical mission that is the transition to net zero.”
Joyce Grech, Head of Commercial Banking at HSBC Malta, welcomed the appointment: “I am looking forward to working with Alan and drawing on his vast experience to support our local commercial customers in their transition journeys.”