HSBC hired a Credit Suisse MD for the new hot area
Credit Suisse’s Paris office might be slowly being gutted by UBS, but people from its ruins are still finding happy homes elsewhere.
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David Harboun spent nearly seven years in total at Credit Suisse, most recently as head of France retail & Benelux cross-asset solution sales. Harboun joined HSBC this week to head up the bank’s equity derivatives sales team for continental Europe, based in Paris.
Harboun’s arrival comes as equity derivatives professionals are having a moment in the sun. As we reported this morning, banks like BNP Paribas benefitted from dramatically rising equity derivatives revenues in the second quarter as clients rushed to hedge against spiking volatility in the equities markets. Ongoing volatility means revenues are expected to remain strong. HSBC clearly thinks now is a good moment to capitalize on this.
Harboun was a managing director (MD), part of the bank’s class of 2021 – the penultimate class promoted before its implosion and acquisition by UBS.
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