HSBC’s co-head of global banking to depart after only 18 months

Matthew Westerman of HSBC Steps Down After 18 Months

The Goldman Sachs veteran brought in to shake up HSBC’s investment banking business is leaving the lender only 18 months after he was hired to lead a significant push in growth. Matthew Westerman, co-head of HSBC’s global banking division, is stepping down by the end of the month.

One former HSBC investment banker, who left the group recently, said Mr Westerman had been given free rein to hire and fire. But after ousting several senior people, he quickly found the cash was not available to make the big-name hires he wanted. Read the full article here.

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HSBC Matthew Westerman leaves HSBC