HSBC has promoted 2 new heads to run its Wall Street equity capital markets business

HSBC has promoted two bankers internally to cohead its equity capital markets operation in the US and Canada.

Brendan Spinks and Alfred Traboulsi were each named cohead of ECM in North America for the London-based bank this week, a company spokesman confirmed.

Both men were advanced from within the firm’s ECM department.

Spinks has been with the bank since 2002, according to his LinkedIn page, while Traboulsi joined HSBC from Goldman Sachs‘ equity derivatives team in 2014.

HSBC ranked 11 globally in the first half for investment banking fees, according to Thomson Reuters, behind Wells Fargo and ahead of UBS. It generated around $US1 billion in fees globally, with $US276 million in fees from the Americas.

Samir Assaf, CEO of global banking and markets at HSBC, told Financial Times last year that the bank was targeting market share gains in the advisory and equity business outside of Asia, its traditional area of strength.

“We have progressed in Europe and emerging markets in the last three years,” he told the FT. “We think that we still have much more to go.”

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