Wolfenden, who is currently the head of finance and strategy for HSBC’s UK wealth and personal banking division, will take on the role with effect from 1 March.

HSBC said he will assume responsibility for all retail products, and take charge of the teams which look after  Everyday Banking, Buying a Home and Customer Experience, in addition to Strategy & Risk and Underwriting.

Wolfenden grew up in Yorkshire and attained a BA in Econometrics from the University of Sheffield.  He is a charted account and spent over 10 years at HSBC gaining experience up to global level.

He is married with four children and enjoys adventure and travel, including trekking – he has even climbed to Everest Base Camp, Mount Kenya and Kilimanjaro.

As a keen runner and cyclist, Wolfenden has also completed the London Marathon, a 1,000km bike trip across Thailand and most recently has competed in Triathlons.

Stuart Haire, head of wealth and personal banking, at HSBC said: “Tom has a huge amount of experience in the bank and knows our strategy, products and capabilities like the back of his hand.

“I would like to sincerely thank Tracie Pearce for her time with the bank, both as head of mortgages and latterly heading up Retail Banking. She has made a real difference to this bank and leaves big shoes to fill.”

Meanwhile, Wolfenden said: “Whether it is providing appropriate support with credit products, enabling products digitally, or helping the most vulnerable in our society, more than ever, now is the time for banks to step up to the mark to deliver for customers. I will do my utmost to ensure we continue to do just that.”