HSBC appoints Paras Jain as global head of TMT banking
HSBC has hired Paras Jain to lead its global technology, media and telecom (TMT) banking unit, with the role based in New York and reporting to Jan Laubjerg, and Jain is set to start in November.1
The bank, which has a balance sheet of roughly $3.4 trillion, also announced it will wind down most of its M&A advisory and equity capital markets businesses in the United States, Britain and Europe by 2025, while five AI hyperscalers are expected to spend $800 billion this year.1