HSBC has made a number of internal promotions and transfers, as well as parting company with two senior bankers in the US, Euromoney has learnt.
Patrick Nolan has been appointed head of global banking and markets for the Americas. Nolan was most recently global head of credit and lending, a role which included a senior coverage role for key clients. He has held a number of senior global banking positions in Canada, the US and the UK since joining HSBC in 1987. Within GBM, Nolan will report to global head of banking Robin Phillips and global head of markets Samir Assaf.
Nolan replaces Tony Murphy, a long-time HSBC veteran, who was only promoted to his role as head of GBM for the Americas last year. Murphy had previously played a key role in shoring up HSBCs business in the US after the bank suffered huge losses from its investment in mortgage lender Household Financial. Murphy is understood to be leaving the firm.
Russell Julius is to relocate from London to Hong Kong, where he will take on the position of global head of banking for Asia. Until recently, Julius was global head of equity capital markets at HSBC, which he joined from ING Barings in 2002. Julius has recently played a key role in getting momentum into HSBCs equities business, securing key mandates on equity raisings for the likes of BNP Paribas, Prudential and Volkswagen.
It was therefore something of a surprise two months ago when he was replaced as head of ECM by John Crompton, hired from UKFI, and given the title of chairman of ECM. His new role, in perhaps the key region for HSBC, will be seen by some as a more appropriate reward for his efforts. He reports regionally to Anita Fung, global head of banking and markets Asia, and his line manager will be Philips.
Julius takes a position until now held by Frank Slevin, who is relocating to New York to become co-head of global banking for the Americas alongside Gerry Mato, who has long been seen as one of HSBCs most successful bankers, in particular for his successes in Latin America.
This is a new challenge for Slevin, who has been based in Asia since 1994. He joined HSBC from Citigroup in 2007.
Slevin is likely to look to use that Asia experience to help build on increasing deal flow between the Americas and Asia, especially the growing cross-border interest between Latin America and China.
Completing the merry-go-round, Tom Cole who has been co-head of global banking for the Americas is to leave HSBC at the end of June for personal reasons.