Joe Garner is leaving the post after less than two years in the job, and will leave the bank early next year.
Simoes takes on the retail and business banking role on 1 November.
He has experience in senior roles – he joined HSBC in 2007 as group head of strategy.
In 2009 he moved to Hong Kong to spend two years covering strategy as well as planning, and to work as chief of staff to the group chief executive.
Success in that role saw Simoes promoted to group general manager in 2011.
Before moving to the bank he spent a decade at McKinsey in London, using his background as a Goldman Sachs investment banker to work in financial services across the world.
“Antonio has been instrumental in shaping and implementing HSBC’s group strategy and will provide that focus to develop the UK business further in a challenging and changing regulatory environment,” said HSBC chief executive Brian Robertson, to whom Simoes will now report.