HSBC Loses Four Bond Bankers as China Spats Hurt Dealmaking
- Exits come as lender misses out on some SOE debt deals
- HSBC falls 10 places in China’s high-grade bond league table
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HSBC Holdings Plc has lost about a third of its debt capital markets team covering Chinese state-owned enterprises, a sign the bank is still struggling to win back favor in Beijing three years after becoming embroiled in geopolitical spats between China and the West.
The departures in recent weeks include two managing directors, John Hai and Jiang Song, who led client coverage of Chinese investment-grade issuers including SOEs, according to people familiar with the matter who asked not to be named discussing internal information.