HSBC’s ex-head of UK ECM has just landed another big job
It’s tough in equity capital markets (ECM) right now, and arguably even tougher for those at the top originating the business. Antony Isaacs, the former head of UK ECM and corporate broking at HSBC, has just managed to find another role, however.
Isaacs – who was ejected from HSBC in July last year as part of its ongoing investment bank restructuring – has just re-emerged at Canaccord Genuity. There, he is a managing director and head of ECM for EMEA.
HSBC culled a number of senior bankers in the middle of last year. More recently, however, it's turned its attentions to cutting senior people in sales and trading.
Isaacs was brought in by HSBC in May 2015 to win more advisory work from British companies, but the Brexit vote made an already difficult market for ECM bankers even tougher. Isaacs left after just over a year at the bank.
IPO volumes in EMEA declined by 49% in 2016 to $70.3bn, according to figures from Dealogic. HSBC didn’t break into the top ten in any geographical market last year.
Isaacs spent the two years prior to joining HSBC as a founding partner of independent advisory firm Ari Advisors. He previously worked at Macquarie as ECM EMEA head and the head of originations and solutions group. Before this, he spent eight years as head of UK ECM at Credit Suisse.
Antony is the brother of Jeremy Isaacs, the former head of Lehman Brothers' Asia and European operation. He now runs his own private equity firm, JRJ Group.
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