HSBC reaps rewards in US

HSBC recruited Welsh from Goldman Sachs last January to expand HSBC’s market share and product offering in North America, bringing it in line with the bank’s businesses in Asia and Europe. "This had been a segment of the market to which HSBC had not committed the full weight of its resources," said Welsh. A large part of that build-up focused on sales and improving co-ordination between centres, he added.

Overall, new business generated from HSBC’s corporate andinstitutional banking client b