Senior investment bankers are still leaving HSBC. The latest departure is Greg Hely-Hutchinson, a managing director within its transportation, support services and infrastructure investment banking team, who left to join a small bank in the City of London.
Hely-Hutchinson, who has spent the past 12 years at HSBC, has just joined Duff & Phelps as a managing director in London. Duff & Phelps is an investment bank that focuses on mid-market deals, but has just 58 staff registered with the Financial Conduct Authority.
Hely-Hutchinson joined HSBC in 2005 from boutique investment bank Arbuthnot Securities, having moved across from Bank of America Merrill Lynch where he started out as an analyst in 2001.
HSBC said earlier this year that it was cutting 100 senior investment banking jobs and people have been coming on to the market throughout 2017. Ben Katz, who was head of DCM for the financial institutions group for the U.S. and co-head of HSBC’s financing solutions group for the Americas, left in February this year and has decided to launch his own advisory firm, Katz Capital Advisory.
Most senior bankers coming out of HSBC have decided to go it alone. James Simpson and Matteo Canoncaco, co-head of advisory for EMEA and head of financial sponsors respectively, launched PE start-up DuCanon Capital Partners.
Nick Hassall, who was head of consumer investment banking at UBS, has started venture capital firm Sequor Partners Limited, and Tahir Ali Wahid, who was a managing director and head of European banks and credit solutions coverage sales at Credit Suisse in London until December last year, has launched an advisory boutique called SSP (Strategic Solutions Partnership) Global.
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