HSBC hired a BCG partner to help grow its investment bank

HSBC has got a new employee in its corporate and institutional bank. He may already be familiar with how it operates. 

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Matt Halford, a partner at Boston Consulting Group (BCG) in London, has reappeared at HSBC where he will be director of strategic revenue development for the corporate and institutional bank.

Writing on LinkedIn, Halford says this new role will entail him "shaping and delivering new solutions in partnership with clients." At BCG he says he was a "core member of the financial institutions practice."

HSBC is keen on hiring ex-consultants and is also keen on BCG, with which it has worked since at least 2017. Previously, HSBC hired McKinsey Partner Chirantan Barua as head of strategy for the whole bank, but he is now CEO of Scottish Widows. 

BCG has long specialized in helping banks strip out layers and simplify their operations. Citi, for example, used its services to this end in 2024. HSBC was also practicising simplification before adopting the more ruthless approach of closing much of its M&A and ECM businesses last year.

Now it seems that Halford might help the bank diversify a bit again.

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