A former managing director for HSBC Private Bank has left to join Bank J Safra Sarasin.

Guy Magen worked for HSBC in Tel Aviv for five years, latterly as managing director and head of the Israel office for HSBC Private Bank (Suisse). He now takes the corresponding role at J Safra.

Mr Magen said on LinkedIn he had decided to accept a new challenge after “five successful and rewarding years at HSBC”.

“I am looking forward to joining a great team of outstanding colleagues in Israel, Switzerland, London and Luxembourg and working with some of the most talented people in the industry,” he said.