HSBC Expands Europe Credit Team as It Seeks to Gain Market Share

HSBC Holdings Plc (HSBA), Europe’s largest lender, said it hired four traders and two salesmen in London as it plans to grow its credit business in the region.

Andrew McMillan joins as a managing director, head of high-yield and leveraged sales and Jack Czarnota assumes the role of director in high-yield sales, according to an e-mailed statement from the bank today. Dan Cohen is becoming a director in high-yield trading, while Christian Evans and Chris Case join as directors in financials trading. Eugene Gorelik is named as a director in securitisation trading, according to the statement.

“HSBC is looking to capitalise on the growing opportunity in Europe in the credit markets,” the company said in the statement. “The opportunity is driven by the increased use of the bond market by European corporate treasurers. This is driving increased corporate origination volumes in the high yield, hybrid capital as well as in the infrastructure securitisation space.”

Stephen Butcher is said to have left the bank where he was head of high-yield sales, a person familiar said last week.

To contact the reporter on this story: Katie Linsell in Madrid at klinsell@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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