HSBC has said it is pushing ahead with a major restructure of its wealth and private banking arms, despite the Covid-19 pandemic.

Various media reports suggested the bank’s consolidation of its global private banking (GPB) and retail and wealth management business had been put on hold due to the virus outbreak.

HSBC said the restructure has already begun, with Charlie Nunn appointed as chief executive of the newly-formed Wealth and Personal Banking unit.

The bank has also appointed Greg Hingston as region...