HSBC hires ex-Citi telecoms banker in sector push-sources

By Leila Abboud and Sophie Sassard

LONDON/PARIS, March 19 (Reuters) - HSBC, Europe'sbiggest bank, has hired former Citi banker Daniel Bailey to leadits global telecom, media and technology (TMT) team, two peoplewith direct knowledge of the matter said on Tuesday.

Bailey had been in the same role at Citigroup since2006 and left as part of cost cuts the U.S. bank is making inresponse to the weak economic climate and due to tougherregulation.

Bailey will start at HSBC in April, one of the people said.

HSBC declined to comment.