If its spate of hires throughout the year has not got its rivals thinking, the latest appointment at HVB, part of the UniCredit markets and bank operation, will do so. The bank, which is one of Europe’s largest companies by market capitalisation, has hired the well-liked and highly respected Ben Welsh as its co-head of global FICC; the other co-head is long-term HVB staffer Kurt Szesny.
Welsh, who left his role as head of FX, global metals and US rates at HSBC New York in early March has relocated to London. Welsh, who says he is extremely bullish about the bank’s ability to capitalise on its size and distribution network, is likely to act as a magnet for talent. It will be interesting to see who is tempted to join him at HVB.