HSBC hires from big-name rivals like Goldman Sachs for Asia equity team

HSBC recently made a number of recruitments for its leadership group as it revamps its business in the Asia-Pacific region.

The recent hiring spate has been reported by Bloomberg to include Michael Parry as a director focused on Asian equity sales, Liu Kang and Jimmy He who will also join the equity sales team.

Parry comes from Goldman Sachs where he was previously an equity director, and prior to this he worked at Standard Chartered Bank.

Jimmy He will be joining from China International Capital Corp.

Lui comes from Goldman Sachs’ Chinese partner Beijing Gao Hua Securities Co.

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HSBC is currently revamping its equities business across Asia Pacific and is working to boost its business in China.

Other recent additions to the team, according to Bloomberg, include Michele Kwok from JP Morgan Chase & Co who will work on the Hong Kong and China equity sales team, and Mark Ong, who has worked for CLSA Ltd.

In addition, it has been reported by Invezz.com that HSBC’s share prices fell in London on Friday morning and the stock is underperforming in the UK market, perhaps due in part to the new China focus.

HSBC’s China joint venture is based in Guangdong’s free-trade zone and according to Invezz will be central to HSBC’s Asia focus.