Oliver Duff has left his position as HSBC‘s head of European capital financing and is expected to launch a new senior loan fund in a move to Europe’s growing institutional buyside, banking sources said on Thursday.
Duff joined HSBC in 2006 to help the bank build its leveraged finance platform and boost its profile in the sub-investment-grade leveraged loan and high-yield bond markets.
The bank has built a solid global leveraged finance business after boosting its profile in Asia and creating a European high yield team around five years ago.
HSBC has been moving up the loan league tables and is currently heading the bookrunner table for Europe, the Middle East and Africa (EMEA) with US$40bn of loans in 160 deals for the year to date, according to Thomson Reuters LPC data.
Duff moved to HSBC in 2006 as global head of loan syndication and was promoted to global head of leveraged finance in 2009.
He switched to his current position of head of capital financing for Europe in 2014, where he reported to Spencer Lake, global head of capital financing in the bank’s global banking and markets division.
Russell Schofield-Bezer, who is currently HSBC’s head of European debt capital markets, is expected to assume Duff’s responsibilities as head of capital financing, Europe.
HSBC’s loan team will be run by Richard Jackson, HSBC’s New York-based global head of leveraged and acquisition finance.
Graham Tufts will head EMEA leveraged and acquisition finance and European loan syndicate will be run by Tim Spray, who recently joined HSBC from UniCredit.
James Horsburgh and Romeet Shankardass will head EMEA corporate loan origination.
Duff joined HSBC in 2006 from Morgan Stanley, where he ran the bank’s loan syndicate team. Prior to that, he was at Goldman Sachs for six years and started his career at Bankers Trust in 1994.