HSBC equities boss shakes up team and plans more hires

New European trading rules are expected to increase competition among the region’s equities brokers

The ex-head of mergers and acquisitions at HSBC, who left in 2016 as part of sweeping changes to its investment bank, is now working for a small corporate finance boutique run by former colleagues.

Florian Fautz departed HSBC in June 2016 alongside other long-serving dealmakers amid a reshuffle that followed the arrival of former Goldman Sachs partner Matthew Westerman, a divisive figure who had been brought in to overhaul the investment bank.

He is now at Herax Partners, a corporate finance boutique with around 10 employees that focuses on deals in German-speaking countries and the UK. Fautz is a senior adviser, according to Angus MacPherson, founder of the firm — a  consulting role that sees him brought in to work on special projects.

Fautz and MacPherson previously worked together in the investment banking team at HSBC Tinkhaus in Dusseldorf.

Herax Partners is staffed by a number of former senior HSBC bankers. As well as MacPherson, it counts Wolfgang Menig, a former HSBC managing director, and John Melletts, an ex-head of mid-market advisory at the UK bank, among its employees.

HSBC announced a series of changes to restructure its investment bank and target large corporate clients in February 2016 including hiring Westerman as its co-head of global banking alongside Robin Philips.

Fautz was one of many senior casualties, as a result, the reorganisation. Others included John Crompton, HSBC’s global head of corporate finance who has since re-emerged as chairman of fintech firm Issufy; and Spencer Lake, its vice-chairman of global banking and markets, who has now reinvented himself as a “fintech fixer”.

Westerman, who was reportedly responsible for a series of contentious changes to HSBC’s investment bank — including sharper divisions in the bonus pool and a tougher end-of-year appraisal process – departed last November after less than two years in the role.

Source: HSBC equities boss shakes up team and plans more hires