HSBC’s Gulf Exits Prompt Bank to Bring in Dealmakers From the UK

HSBC Holdings Plc has relocated several managing directors from London to the Middle East, replenishing its ranks in a region earmarked as a priority under Chief Executive Officer Georges Elhedery.

The lender moved four London-based MD’s — Robin Brown, Ajay D’Souza, Simran Saggu and Khurram Islam — to the Gulf earlier this year, according to a person familiar with the matter, who asked not to be named as the information is private. It also hired an energy banker from Rothschild & Co. for a role in Saudi Arabia last month, the person said.