HSBC hires Sarah Wiggins in UK investment banking push
October 27, 2021
LONDON (Reuters) -HSBC has appointed Sarah Wiggins as vice chair, global banking in London, according to an internal memo seen by Reuters on Wednesday.
Wiggins will join the bank at the end of the first quarter of 2022 from law firm Linklaters and will be responsible for helping to build HSBC’s investment banking business in its home market of Britain, the memo said.
The move is the latest of a string of senior appointments by the bank’s co-head of Global Banking and Markets Greg Guyett, as he tries to improve HSBC’s ties to corporate bosses and its investment banking performance.
HSBC appointed senior bankers Philip Lee and Vikas Seth as vice chairs of global banking last autumn, based in Singapore and London respectively.
The British bank posted strong third quarter results on Monday, but has seen its investment bank income fall this year due to its bias towards debt markets, at a time when rivals’ equities and merger-focused businesses have thrived.
A spokesperson for the bank confirmed the contents of the memo.
(Reporting by Lawrence White Editing by Iain Withers and Mark Potter)