(Bloomberg) ? HSBC Holdings Plc, Europe?s biggest bank by market value, said it hired Marlon Young from Citigroup Inc. to run its private bank for wealthy US customers.

New York-based Young will be head of US domestic private banking, reporting to Gerard Aquilina, chief executive officer for the Americas at HSBC Private Bank, HSBC said today in a press release. Young, who is 50, spent 27 years at Citigroup, the biggest US bank, where he was most recently the head of private client lending at the Smith Barney unit.

Young will work ?to achieve much closer collaboration with our partners in tax, investment banking, corporate and commercial banking and personal financial services as HSBC continues to grow,? Aquilina said in the statement. Young has a master?s degree in business management from the Asian Institute of Management in Manila, according to HSBC?s statement.

While at Citigroup, his roles included head of the northeast U.S. region for Citigroup Private Bank, global markets manager for Thailand and head of a team catering to ultra-high net worth clients in Hong Kong.

(Bloomberg) ? Digicel Group, the Jamaica-based cellular-phone operator owned by Irish businessman Denis O?Brien, may buy Bouygues SA?s Caribbean wireless business for an undisclosed sum to expand into new territories. The purchase of Bouygues Telecom Caribe, which is subject to the approval of regulators and Bougyues shareholders, will add Martinique, Guadeloupe and French Guiana to Digicel?s network, the company said today in an e-mailed statement. Digicel is in ?exclusive negotiations? with Bouygues, it said.

Dublin-born O?Brien, who bid for Eircom Group Plc in 2001, founded Digicel after selling his phone company Esat Telecom Group Plc to British Telecommunications Plc in 2000. Digicel, which earlier this year bought Cingular Wireless LLC?s business in the Caribbean and Bermuda, operates in 15 Caribbean islands.

(Bloomberg) ? Hannover Re, the world?s fourth-biggest reinsurer, plans to reorganise its US division, switching its specialty insurance business to a newly founded company. The new company, Praetorian Financial Group, will take over and build the specialty insurance business of Hannover Re?s current US subsidiary, Clarendon Insurance Group, the reinsurer said in a statement. Clarendon will now focus on about ?200 terminated programs? and its standardised primary insurance business.