HSBC has hired Joe Norena as its global head of FX business management and development, global foreign exchange – effectively this is the role of chief operating officer. Norena is an industry veteran, having served 13 years at Citibank in New York, and 11 years at Deutsche, where he held a variety of senior roles, including COO global FX and commodities. He has been on the buy side since 2005. Norena will report to Frederic Boillereau, HSBC’s global head of FX and metals. An internal memo says Norena, “will be responsible for all aspects of business management and development for global FX, and play a critical leadership role across the business in participating and executing our strategy to provide clients with a seamless and integrated global product capability. His experience of building Deutsche's e-commerce platform will also be invaluable as we continue the growth of our e-commerce business.”