HSBC's public sector bond team, headed by longstanding banker PJ Bye in London, is our team of the week, having already become the only bank this year to have secured the two big bond issues by European government-backed agencies.

Earlier this year, HSBC snagged a role on issuing the €5bn European Financial Stability Mechanism related bond on behalf of the European Commission. It then followed this up last week with the hotly-anticipated follow up, an inaugural €3bn to €5bn issuance for the European Financial Stability Facility. Both of the bonds are for the emergency funding for the bailout of the Irish banking sector, announced at the end of last year.