HSBC hires Hong Kong MD to head up hot new group
HSBC has hired Danny Fischer as the Hong Kong-based head of strategic solutions Asia Pacific. Fischer has joined HSBC at managing director level from QBE Insurance in Sydney, where he’d spent the past two and a half years as group treasurer, according to his LinkedIn profile.
The strategic solutions group, led globally by Nik Dhanani, was set up in July and links closely with HSBC’s sector and product bankers to provide strategic advice and financing ideas tailored to specific industries and market sectors. At launch, it comprised around 35 bankers spread across Asia Pacific, Europe and the Americas.
Fischer worked for Merrill Lynch between 2004 and 2013, latterly as a managing director, and head of the financial institutions group (FIG) and strategic capital group. He then joined National Australia Bank as global head of FIG and worked there until January 2018, when he took the QBE job.
His new group at HSBC, strategic solutions, which sits within the capital financing and investment banking coverage division, is divided into three focus areas: environmental, social and governance (ESG) solutions; corporate finance solutions; and financial institutions and capital solutions.
“This new group will work with all our bankers across sector, product and geography to assess client needs and deliver actionable solutions which are in the best interests of our clients,” Greg Guyett, co-CEO of global banking and markets at HSBC, said in a statement in July. “Post-COVID, we have a unique opportunity to rebuild our economies and companies so they are more financially-resilient and can transition to more sustainable business models,” he added.
Fischer is not the only senior person to have joined HSBC in Hong Kong in recent weeks as the bank continues to make selective hires in its number-one market, despite cutting 35,000 jobs globally, mainly in Western countries. Last week the bank announced the appointment of Maggie Ng from IG as head of wealth and personal banking for Hong Kong. Other new recruits include UHNW private banker Cedric Chan from Julius Baer, and Annette Neeson from Commonwealth Bank, who is now HSBC’s chief data officer for Hong Kong.
HSBC did not reply to a request to comment on Fischer’s move.