HSBC hires ex-Citi telecoms banker in sector push-sources

LONDON/PARIS, March 19 Tue Mar 19, 2013 1:18pm EDT

LONDON/PARIS, March 19 (Reuters) - HSBC, Europe's biggest bank, has hired former Citi banker Daniel Bailey to lead its global telecom, media and technology (TMT) team, two people with direct knowledge of the matter said on Tuesday.

Bailey had been in the same role at Citigroup since 2006 and left as part of cost cuts the U.S. bank is making in response to the weak economic climate and due to tougher regulation.

Bailey will start at HSBC in April, one of the people said.

HSBC declined to comment.

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