HSBC beefs up research team as part of its US equity coverage expansion – memo

An HSBC bank is pictured in New York

By Saeed Azhar and Sumeet Chatterjee

(Reuters) – HSBC Holdings as part of its U.S. equity coverage expansion has added six members to its global research team, according to an internal memo seen by Reuters on Wednesday.

Europe’s largest bank said the new members – Steve Barsey, Daniela Bretthauer, Wesley Brooks, Meredith Jensen, Saul Martinez and Alastair Pinder – will be covering sectors from technology to consumer discretionary.

“By the end of 2023, we aim to add approximately 150 new large-cap names to the 46 U.S. names already under our coverage. The project as a whole will see more than 20 new joiners in the U.S., Mexico, the UAE and India,” the memo said.

The latest appointments come at a time when there has been lot of executive movements on Wall Street, as several financial firms are cutting jobs and alongside hiring top talents from their rivals in various departments from investment banking to research roles.

HSBC in June had decided to leave its long-standing headquarters in Canary Wharf in east London in favour of a move to a much smaller office in the centre of the city.

(Writing by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel)