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By Steve Slater
LONDON, Sept 12 (IFR) - One of HSBC's most senior investmentbankers, Spencer Lake, is leaving the British bank.
Lake has been at HSBC's global banking and markets businessfor 10 years, helping to build up its capital markets andinvestment banking business. He is expected to leave this week.
His departure follows the arrival in May of MatthewWesterman from Goldman Sachs as co-head of banking, which sawHSBC reorganise its capital markets business.
Lake became vice-chairman of GBM under that rejig, focusingon strategic initiatives, such as the internationalisation ofChina's renminbi, infrastructure and sustainable financing. Hehad previously been global head of capital financing, and beforethat co-head of global markets.
Samir Assaf, chief executive of GBM, said in a memo to staffon Monday that Lake had decided to leave the bank, but did notgive a reason.
Lake, a Canadian who also has British citizenship afterworking in London for the past 17 years, is expected to look foranother role in the industry.
He joined HSBC in 2006 as head of debt capital markets andacquisition finance after working for 17 years at Merrill Lynchin New York, Hong Kong and London in a number of areas,including real estate finance, investment banking and DCM.Before Merrill, Lake worked for two years at JP Morgan.
HSBC enlarged the size of global banking at the time ofWesterman's arrival, including merging its capital financingunit into it and moving a number of clients from commercialbanking into the business.
At the time HSBC said the aim was to cut costs and create amore efficient structure, and bring its primary products intothe same area as relationship managers and make it more agile.Westerman co-heads global banking with Robin Phillips.
It involved a number of other staff changes, including thedepartures of John Crompton, who was HSBC's head of corporatefinance, and Florian Fautz, head of M&A. (Editing by Gareth Gore)