HSBC hires European loan chief from Deutsche

LONDON, June 12 (Reuters) - HSBC Holdings Plc (HSBA.L) has hired Steve Snizek from Deutsche Bank AG (DBKGn.DE) as European head of loan sales and trading within the leveraged and acquisition finance unit.

Snizek, who set up Deutsche's European loan trading business in 2000, will start in September and will be based in London, HSBC said on Thursday.

"With Steve's appointment, we have substantially completed the senior management build-out of our leveraged finance capability in Europe," said Oliver Duff, global head of leveraged finance syndicate.

Thanks to its traditionally strong balance sheet and funding position and an increasing emphasis on emerging markets, HSBC has emerged from the credit crunch less scarred than rivals. Deutsche, on the other hand, in April suffered its first quarterly loss in five years as global financial turmoil heaped more than $4 billion in writedowns on Germany's top bank. (Reporting by Olesya Dmitracova; editing by Rory Channing)