FRANKFURT, Sept 3 (Reuters) - HSBC, Europe'sbiggest bank, has picked Florian Fautz to head the group'smergers and acquisitions unit, a spokesman for HSBC Germany saidon Tuesday.
Fautz, current head of advisory Germany, will start asglobal head of M&A Execution later this year as part of a widermanagement shakeup at HSBC, the spokesman said, confirmingReuters information from three sources familiar with the matter.
Fautz will report to Spencer Lake, who is head of capitalfinancing.
Fautz, aged 51, joined HSBC from Dresdner Kleinwort in 2007. Alain Renaud, previously head of M&A, is currently onsabbatical.
HSBC is reshuffling senior executives in Asia and Europe andwill create a "product neutral" team, separate from sales, toimprove its client relationships.
HSBC has hired several high-profile bankers in the past fewmonths as rivals have stepped up job cuts at their investmentbanking businesses.
Among others, HSBC appointed former Citi banker DanielBailey to lead its global telecom, media and technology (TMT)team, as well as Herman Deetman as head of utilities for Europe,Middle East and Africa (EMEA) from Deutsche Bank.
HSBC Holdings (HSBA)