Ian Banwell has started his new role as chief executive of Hamburg Commercial Bank (HCOB) with a promise to boost profit.

The German shipping lender’s former chief financial officer replaced Stefan Ermisch on 1 October. Marc Ziegner becomes CFO.

The 59-year-old Banwell said: “We have accomplished a great deal over the past few years, and I look forward to continuing to work with my fellow board members Christopher Brody, Ulrik Lackschewitz and Marc Ziegner, and the entire staff.