{"id":377408,"date":"2025-08-27T10:48:12","date_gmt":"2025-08-27T10:48:12","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/377408\/"},"modified":"2025-08-27T10:48:12","modified_gmt":"2025-08-27T10:48:12","slug":"hsbc-london-sales-md-leaves-for-rbc-after-18-years","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/377408\/","title":{"rendered":"HSBC London sales MD leaves for RBC after 18 years"},"content":{"rendered":"

HSBC is in the midst of a front office cost-cutting frenzy.<\/a> It’s winding down its M&A and ECM businesses in London, while making cuts in its markets<\/a> and equity research divisions. As people stream out, voluntarily<\/a> or otherwise<\/a>, one managing director (MD) in the bank’s equity sales team<\/a> has joined a rival bank in London.<\/p>\n

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Gaurika Gambhir has joined RBC as its EMEA head of equity derivatives sales. She spent the last 18 years at HSBC, joining as a director and achieving promotion to MD in 2022. She also had previous stints at ABN Amro in London and Commerzbank in New York.<\/p>\n

Gambhir leaves HSBC after the bank’s markets division amid a respectable year for its markets division. Trading revenues were up 32% for the first half of the year, bringing in $1.5bn.<\/p>\n

She isn’t the first big hire RBC has made from HSBC this year. In June, it hired Tom Raynsford as an MD within its UK corporate broking business. Raynsford only spent 18 months at the bank after joining from UBS. It obviously has some affinity for HSBC, having acquired its Canadian operations last year. The integration of the bank was thought to have played a role in RBCs own layoffs<\/a> conducted earlier this year.<\/p>\n

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