HSBC's unwanted midmarket bankers are finding new homes

M&A and equity capital markets who are still working for HSBC in London are toiling under the threat of being ejected at any time. In the meantime, some of their former colleagues are turning up elsewhere.

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We understand that both Barclays and Citi have hired key members of HSBC's mid-market team in London. 

Tobias Sommer, a former managing director at HSBC, is understood to be joining Barclays along with various HSBC juniors to start a new midmarket team next week. Jacques Callaghan, HSBC's former head of UK midmarket M&A, is understood to be joining Citi.

Barclays declined to comment and Sommer and Callaghan didn't respond to a request to comment. Citi was not contacted for comment prior to publication.

Mid-market M&A is a popular field to play upon. Goldman Sachs, for example, is chasing midmarket M&A deals in EMEA. Bank of America and JPMorgan have been growing in the area for the past few years. 

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