VANCOUVER -- HSBC Bank Canada has announced a replacement for president and CEO Lindsay Gordon, who is retiring in January.

The new president and CEO will be Paulo Maia, currently chief executive officer of HSBC Bank Australia, the bank said Tuesday.

Besides relinquishing his roles as president and CEO effective Jan. 5, Gordon is also stepping down as chair of HSBC Global Asset Management Canada Ltd.

He will remain connected with the bank, however, through an appointment to the board of directors of HSBC France, subject to required approvals.

"After nine years as CEO of HSBC Bank Canada, it's the right time for me to move on to a new chapter of life," Gordon said.

"I am very proud to have been associated with HSBC for 25 of its 31 years operating in Canada and I am delighted that Paulo Maia will be my successor."

HSBC chairman Samuel Minzberg said Maia brings with him a wealth of international experience.

"Given the similarities between Australia and Canada, particularly resources, cultural diversity and a strong banking system, his experience as country head of our Australian business will be valuable as will his emerging market background."

Maia, who has been CEO of HSBC Bank Australia since July 2009, previously held a variety of senior positions with HSBC Bank Brazil since joining the bank in 1993 in Sao Paulo as director, corporate finance. He later moved to London as senior manager, emerging markets.

Prior to joining HSBC, he held positions in corporate finance and corporate banking in New York, Rio de Janeiro and Sao Paulo with Chase Manhattan Bank.