London-headquartered investment bank HSBC has made a senior appointment at its European private equity advisory unit. Matteo Canonaco is joining from investment bank Lazard to take up a new role in the bank’s financial sponsors business.
Canonaco becomes the European head of the newly-created financial sponsors corporate finance and advisory group at the bank, which will provide M&A advice to private equity firms. He is to be made a managing director and will report to Robin Osmond, chief operating officer and acting global head of the bank’s corporate finance and advisory business.
Canonaco has over ten years experience in investment banking and has spent over eight years at Lazard in both its London and New York offices during two spells with the firm. Most recently, he was head of financial sponsors in London and European co-ordinator of financial sponsors coverage. Canonaco also spent two years with Investcorp, the Bahrain-based private equity group, between 1996 and 1998.
A spokesperson for the bank said the appointment was part of an effort to create sector coverage across all of the bank’s teams. “We’re moving from a geographic to a sector model and beefing up our coverage across all sectors. Previously we have covered financial sponsors from an industrial or geographic basis but we will now have a dedicated European financial sponsors team.”
Canonaco joins the bank at the end of February and is expected to make further appointments after his arrival.