BNP Paribas has hired a senior HSBC banker to lead its UK mergers and acquisitions team, signaling a push to expand its advisory business in London. The French bank appointed Thomas as head of UK M&A, according to a memo seen by Financial News. Thomas, who previously led HSBC's UK M&A team, will start at BNP Paribas in September.
Strategic Hire
The move comes as BNP Paribas seeks to strengthen its position in the competitive UK advisory market. Thomas brings over 15 years of experience in M&A, having worked on major deals across sectors including financial services, industrials, and technology. His appointment is part of a broader hiring spree by BNP Paribas in London, where it has added several senior bankers in recent months.
Market Context
The UK M&A market has seen a slowdown in 2023 due to rising interest rates and economic uncertainty, but banks are still vying for top talent to position themselves for a rebound. BNP Paribas has been particularly active in cross-border deals, leveraging its European network. Thomas will report to John, head of UK investment banking at BNP Paribas.
An HSBC spokesperson confirmed Thomas's departure and wished him well. BNP Paribas declined to comment further.
