HSBC creates new corporate advisory & capital markets unit in private credit push

HSBC has revamped its investment banking business as part of a push into the private credit industry, the company announced today.

The UK lender said its new Capital Markets and Advisory business will group its units together under one structure, with a focus on debt financing and an increased push into private markets.

The new unit will be led by Adam Bagshaw, global head of capital markets and advisory, who joined the business from Deutsche Bank in 2020. He will be tasked with growing the private credit business, particularly in the Middle East and Asia.

Its ‘financing solutions’ arm will emcompass debt capital markets, leveraged and structured finance, private credit origination and mid-market financing, among other areas, HSBC said.

The lender added that it is continuing in its commitment to remove duplication of origination and execution activities and to create ‘a simple and agile structure to support sustainable growth and client focus’.

“These changes are being made as part of the broader simplification of HSBC, enabling us to focus on our areas of strength and where we can differentiate ourselves for our clients and will be subject to usual diligence processes being completed,” said Michael Roberts, chief executive of HSBC Bank.