HSBC Hires Lanfranchi to Head Latin America Equity Sales

HSBC Holdings Plc, Europe’s largest bank, hired Ricardo Lanfranchi from Barclays Plc to head local Latin America equity sales.

Lanfranchi, who was at London-based Barclays since 2009, will oversee from Sao Paulo HSBC’s team covering domestic Latin American accounts, according to an e-mailed statement today. He will report to Thomas O’Leary, head of equities for the Americas, and Otavio Mendes, head of global markets for Brazil, according to the statement.

“His appointment is a strategic addition to our senior team as we methodically continue to add to our equity capabilities across the Americas,” O’Leary said in the statement.

HSBC hasn’t underwritten any equity deals in Brazil this year, according to data compiled by Bloomberg. The bank boosted its Latin America research team to 25 people after hiring seven senior analysts this year, according to the statement.

Chief Executive Officer Stuart Gulliver is cutting $3 billion of costs by eliminating as many as 14,000 jobs over the next three years.

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