Alleyne will be a key contact for European insurance clients, and will be responsible for growth in the segment.
Based in London, he will report to Linda McLennan, who leads the insurance sector within client management.
Alleyne joins HSBC from Citigroup, where he was business manager for global custody product management for Europe, the Middle East and Africa, working with financial institutions across the insurance, asset management and banking sectors.
Previously, he has also held positions at J.P. Morgan Chase and BNP Paribas.
An memo issue by HSBC said the hire “demonstrates we are investing in our client management franchise”.