HSBC Private Bank, the private bank division of HSBC Group, has appointed Katie Danby as chief executive officer of HSBC Private Bank (Monaco), effective 1 January 2014.

Danby will succeed Gérard Cohen, who has led the business for 22 years and will continue to be involved as a director of the bank and as a senior advisor to the global private banking CEO, according to a company statement.

Danby joined HSBC in 1996 and has undertaken a number of roles in private banking and retail banking and wealth management across Europe and the Middle East. Most recently, she was the head of HSBC’s private bank in Luxembourg.

Earlier this year, HSBC said it decided keep its private banking business in Monaco after reviewing unsolicited expressions of interest.