HSBC employees in Germany are leaving for a small new "Hanseatic" bank
Last year, HSBC started cutting back on some of its European teams to focus on the Asian and Middle Eastern markets. A lot of people were cut. But even those who were spared started finding new homes. And one of those homes - in Germany at least - is very old-school.
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One of the departures from HSBC is Ines Struck. Struck joined Münchmeyer Petersen Capital Markets as a director in its equity sales team this week in Frankfurt. She joined the firm directly from HSBC, where she spent 25 years in Düsseldorf and was most recently a director in cash equity sales for the British bank.
Dario Dickmann also joined Münchmeyer Petersen Capital Markets this week as an equity analyst. Dickmann joined from a three-month internship as a “visiting associate” at Rheinmetall, the defense manufacturer. He spent three years at HSBC before Rheinmetall, covering industrial equities for the bank, including defense stocks.
Dickmann and Struck will see at least one more familiar face at Münchmeyer Petersen Capital Markets: Christoph Dolleschal, formerly HSBC's head of German equities research, who also joined the firm this week. Dolleschal and Dickmann worked closely together in HSBC's equity research team.
We understand all three departed HSBC voluntarily, with no relation to the bank's cuts in the region.
Münchmeyer Petersen Capital Markets is a relatively new boutique, formed from the merger of Münchmeyer Petersen & Co. and Warburg Research last year. The combined firm is specifically focused on servicing the Mittelstand, Germany’s small and medium size companies that form its economic backbone. Münchmeyer Petersen Capital Markets describes itself as having "Hanseatic" values. The Hanseatic League was founded approximately 900 years ago.
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