New credit card head appointed by HSBC

A new head of credit cards has been appointed by HSBC in Australia.

HSBC has appointed a new head of credit cards and retail alliances in Australia.

David Walker has taken on the role and Alice Del Vecchio has been named head of mortgages and the pair will be responsible for driving growth in their respective departments.

Graham Heunis, head of personal financial services for HSBC in Australia, said the company is expanding its credit card business down under.

He added: "HSBC's credit card receivables increased by 18.5 per cent in the first half of 2010, double the rate of the overall credit card market and we are focused on continuing this growth."

In addition, the firm revealed that it is concentrating on relationship management with its customers.

This move comes after the bank announced at the start of the month that it had received a five per cent demand increase for its Aussie credit cards in the first half of 2010, compared to the same period last year.

By Mark Hornby