HSBC said it has added William E. Smith and Brendan McCarthy to its securities lending team.
Smith has been named Managing Director and Head of Securities Lending and McCarthy joined as Head of Sales & Marketing for Securities lending.
Smith came from Mellon Financial Corporation where he was a member of its Securities Lending Senior Management Team. Prior to his role at Mellon, Smith was the Global Business Manager for Securities Lending at Deutsche Bank. He has 18 years of experience in securities lending and institutional financial services and was the architect of the integration of the Bankers Trust and Deutsche Bank securities lending businesses when Deutsche Bank and Bankers Trust merged in 1999.
“Bill brings an exceptionally strong background in securities lending and the experience of a seasoned financial services professional to HSBC. He is well suited to build on the strength and momentum of the Securities Lending team.” said Dan Minerva, Managing Director and Head of Treasury and Securities Financing for North America which includes the Securities Lending and repo business.
McCarthy was previously at Citibank where he was Director of Securities Lending Sales for the past four years. Prior to that, he was a senior trader and founding partner of ING-Furman Selz Trust Co. He also held several senior positions over the course of 10 years at Lehman Brothers in their Equity Finance Department.
Shawn Doherty, current Managing Director and Head of Securities Lending will be transferring to the Fixed Income Sales Department of HSBC Securities (HSI).