A pair of investment bankers from HSBC’s financial institutions group has reportedly left, adding to the industry’s rising turnover.
Nate Tan and James Wong have left HSBC, according to a «Bloomberg» report citing unnamed sources.
Tan had been with HSBC since 2017, most recently as a managing director and Southeast Asia head of the financial institutions group (FIG). Previously, he worked at UBS and JPMorgan in Singapore and Hong Kong.
Wong was a Hong Kong-based senior director at the bank’s FIG team focusing on fintech firms. He joined HSBC last year after more than a decade at UBS.
Tan has joined UOB’s digital banking platform team while Wong has joined Morgan Stanley, the report added.
Rising Turnover
Asia’s investment banking industry has recently experienced a rise in turnover, especially in the Hong Kong market where fundraising for the main board has plummeted by over 90 percent in the first five months of the year, according to data from the local exchange.
Banks including Credit Suisse and Deutsche Bank have both seen handfuls of investment bankers exit in the last week, as reported by finews.asia.
