The Hindu Business Line : HSBC to set up analytics team

"The analytics team should be based in the suburbs of Mumbai. The number of people needed are still being worked out with our London office,'' said Ms Naina Lal Kidwai, Head (Corporate & Institutional Banking).

"The team of a minimum of 40 staff will have the mandate of generating company analytics as well as industry analytics and will complement our other analytics teams based elsewhere," said Mr John Studzinski, Global Head of Investment Banking and Markets, HSBC Holdings.

He is in India for a week to interact with the bank's corporate clients.

Currently, the group's analytics teams are based out of New York, Mexico City, London, Paris, Dusseldorf, Hong Kong and Tokyo.

"India has very bright people and cost advantages too. The talent in the country is under-utilised by HSBC and I'm going to set it right,'' he added.

The group employs close to 11,000 staff in India including people in its BPO outfits in Bangalore and Hyderabad.

"The investment banking team is also going to see fresh hiring of 20-25 people from universities. Our headcount will increase by 25 per cent over a five-year period," said Mr Studzinski.

The investment banking outfit, HSBC Securities and Capital Markets (India), has a headcount of about 100 with equity broking, research and corporate finance activities under it.

HSBC funded and advised recent cross-border acquisitions by Indian companies such as the Birlas' acquisition of copper mines in Australia and Tatas' acquisition of Daewoo's commercial vehicles wing.

It also lead managed the public issues of CMC, GAIL and Biocon.