HSBC is still making major strategic hires in London and Hong Kong
In theory, HSBC is in the middle of a hiring freeze while it executes its plan to cut 35,000 jobs globally and tries to remedy what looks like an ever-increasing loss in its London global banking and markets business. In reality, as we've noted before, the global bank is also not averse to a bit of hiring for key roles - but they're typically not roles in the front office.
Accordingly, HSBC has just hired Annette Neeson as chief data officer for Hong Kong, but it's also been busy recruiting in London, where Sumit Gupta just joined as the corporate governance officer and lead for corporate governance in the global banking and markets division.
HSBC didn't comment on Gupta's arrival, but it reflects the bank's ongoing emphasis on governance following some historic large fines. Gupta joins the bank from the U.K.'s Financial Conduct Authority, where he spent a decade working on the listings panel and in market oversight after a career in equity capital markets at Dresdner, Jefferies, and Rothschild.
As we reported last week, HSBC's emphasis on corporate governance became a bit over-zealous when it asked all its employees to take two consecutive weeks off without logging into the bank's systems after the Mexico money laundering case in 2012. This was considered excessive and the bank recently restricted the two week policy to a few key employees instead, prompting complaints that some people didn't get long holidays this year.
Globally, HSBC is currently advertising only eight jobs in investment banking, markets and research. All are based in Asia, with five in Hong Kong, one in Singapore and one in India.
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