HSBC has split responsibility for global debt capital markets between two of its most experienced bankers in London and Hong Kong, after switching the previous head of the business, Bryan Pascoe, to the post of group treasurer.

London-based Jean-Marc Mercier, who has been global head of debt syndicate since 2010 and has worked for the bank since it acquired his former employer, Crédit Commercial de France, in 2000, has been promoted to global co-head of DCM alongside Hong Kong-based Alexi Chan, who has worked for the bank in the DCM teams in Asia and Europe for 15 years.