Head of Goldman Sachs Canada moves to HSBC
(8 October 2018 – UK) Peter Enns will lead HSBCs financial institutions group, the latest recruit in a string of appointments from the bank as it addresses criticism that its investment bank is underperforming.
Mr Enns, who has moved to the bank from Goldman Sachs, will work closely again with Mark Tucker, chairman of HSBC, who was chief executive of Asian insurer AIA when Mr Enns advised on its Hong Kong IPO in 2010.
HSBC has been rocked by the departure of big-name bankers brought in recently to boost its performance, including Matthew Westerman, who left as co-head of global banking last year and Philip Noblet, who left as its top UK dealmaker in August.
The string of external hires into senior positions comes as a leaked memo from unnamed HSBC executives claimed that the bank’s investment strategy had “utterly failed” and its “performance really appalling”.
The memo — which is being treated as a whistleblowing event by the bank, with its claims examined in a formal process — has ignited a frenzy of speculation in the City of London and some deep introspection inside HSBC about the future of its investment bank.
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