Sankey switches to Citi from HSBC: IFR
Ed Sankey is joining Citigroup as head of ECM for EMEA, departing from HSBC where he was global head of ECM.
His departure from HSBC is little surprise as Sankey had recently seen his remit cut in half with the closure of ECM operations in the US and Europe as the bank focuses on Asia-Pacific and the Middle East. He is based in London.
Sankey joined HSBC in mid-2019 as global head of ECM following 15 years at Deutsche Bank. His move to HSBC came just before Deutsche slashed thousands of jobs as it pulled out of equity trading and adopted a new model for ECM.
His appointment was the latest to attempt to lift HSBC's ECM operation to capitalise on the scale of its corporate bank.
HSBC has experienced great success with the growth of ECM in the Middle East, where it can claim to be both a local and global bank and consistently wins top line roles, resulting in it being named IFR's EMEA Equity House of the Year for 2022.
Valery Barrier was running Citi's ECM in the region and will step down from management and focus on covering clients. That marks a complete transition from the ECM leadership team in EMEA prior to the arrival of Viswas Raghavan and Achintya Mangla from JP Morgan last year. James Fleming moved from his role as the London-based co-head of global ECM and Suneel Hargunani left the bank having been co-head of EMEA ECM, alongside Barrier. Ken Robins, chairman of EMEA ECM, is retiring at the end of the year.
Sankey worked with Raghavan at JP Morgan earlier in his career and then with Barrier at Deutsche Bank.
Sankey will report to global head of ECM Doug Adams when he joins in three months.
Martin Zoll has been appointed head of ECM and co-head of strategic equity and financing at HSBC. Zoll joined the bank in 2017 in Hong Kong.
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