Danny Palmer joined HSBC in October 2004 as global head of ECM. His appointment further swelled the ranks of Morgan Stanley bankers poached by HSBC, which is striving to build up an investment banking business that can stand shoulder to shoulder with its highly profitable global markets business.
Palmer has based himself in Asia. In doing so, he has adopted a strategy already successfully deployed by his boss Mark Bucknall, who built up the bank's Asian and then global DCM business from Hong Kong before transferring to London to become head of global financing.
HSBC's ECM business today looks very similar to its DCM...
