John Studzinski, who resigned as co-head of investment banking at HSBC in May, starts work today at Blackstone as the private equity group wins a string of mandates.

He joins as a senior managing director and partner, and also becomes a member of the executive committee. He will divide his time between London and New York and remains an adviser to HSBC's management. Studzinski said when he resigned from HSBC: "The opportunity to work in the different environment of a small, private partnership, which at the same time offers all the challenges of a hugely successful global business, was something I found irresistibly attractive." Stuart Gulliver took over as sole head of HSBC's corporate investment banking and markets after Studzinski's departure. According to sources close to Blackstone, the appointment heralds a period of expansion for the business, which has been in operation since 1987. Blackstone's advisory business includes 11 managing directors. Sources said it would bring in selected prominent bankers with chief executive-level contacts to bolster the team. One said: "Several are likely to join the UK team, with one in each of the significant European countries."