Vancouver-based HSBC Bank Canada has appointed Larry Tomei as its new head of retail banking and wealth-management services on Monday.

Tomei joins HSBC after a 22-year career with Toronto-based Canadian Imperial Bank of Commerce (CIBC), at which he held several executive roles. Most recent, Tomei was senior vice present and head of CIBC’s President’s Choice Financial business. Tomei also led CIBC’s retail bank division as senior vice president, national sales and service, retail and business banking.

Tomei’s experience with CIBC will help HSBC Bank Canada meet the challenges it’s facing, including the digital transformation of the business and changing client expectations, says Sandra Stuart, president and CEO of HSBC Bank Canada, in a statement.

“In this very competitive environment, as customer expectations continue to rise, [Tomei’s] depth of experience in Canadian retail and wealth management, with an emphasis on service, will be valuable in driving our efforts to make the business simpler, faster and more efficient for our customers,” she says.

Tomei replaces Betty Miao as executive vice president and head of retail banking and wealth management. Miao is taking on a new role with HSBC in Asia.

Photo copyright: CNW/HSBC Bank Canada