HSBC Managing Directors begin new “career journeys” during challenging times

If you are active on LinkedIn, you may have noticed a recent trend emerging as HSBC’s managing directors take to the platform to announce their departure from the company. These seasoned professionals are expressing their gratitude to HSBC and their colleagues for their support while embarking on a new and exciting chapter in their careers. However, the timing of these announcements seems less than ideal, particularly for those departing from the consumer and retail sector team amidst uncertainty in the non-food consumer and retail industries. It appears that technology, media, and telecoms bankers might have better prospects this year, as their fee revenues saw a significant increase of about 20% in the first quarter, according to Dealogic data.

For M&A bankers with a long tenure at HSBC, the job market may seem daunting. While headhunters still have roles to fill, most were assigned towards the end of the previous year and are primarily for crucial strategic positions. One industry expert noted that substantial hiring in M&A is unlikely to occur in 2025. Therefore, these departing individuals will need to demonstrate exceptional deal-making abilities to secure new opportunities in a challenging market environment. This task may prove challenging, as HSBC’s M&A division was ranked outside the top 10 in Dealogic’s first-quarter data for all markets except Southeast Asia.

Criticism has also been levied against HSBC’s M&A division, with concerns that its bankers are more focused on executing deals rather than originating them. Currently, headhunters are actively interviewing HSBC professionals, but actual hiring remains limited. Many individuals from HSBC are open to new opportunities, even if they are retained under short-term contracts. The job market seems saturated with individuals seeking new roles, while the M&A sector appears to be facing an extended period of slow activity.

In a time when tariffs are reshaping the global financial landscape, the departure of HSBC managing directors adds another layer of uncertainty to an already complex situation. The journey to secure new career opportunities may be arduous for these professionals, but with the right skills and mindset, they may navigate this challenging period successfully. Technology, media, and telecoms sectors seem to offer promising prospects, but the road ahead remains uncertain. As HSBC’s unwanted banking MDs step into the unknown, their ability to adapt and thrive in a changing market will be crucial for their future success.