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HSBC taps CIBC’s Tomei to head retail banking, wealth-management unit Add to ...

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HSBC Bank Canada has appointed a new head of retail banking and wealth management.

Larry Tomei is joining HSBC after a 22-year career at Canadian Imperial Bank of Commerce, where he most recently headed President’s Choice Financial.

HSBC’s retail presence in Canada is much smaller than the Big Six, given the bank’s emphasis on commercial banking in this country. Profit for its retail banking and wealth-management division in the second quarter, ended June 30, was just $16-million, or about 10 per cent of the total profit for the quarter.

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