HSBC has hired veteran investment banker Paras Jain from Cantor Fitzgerald as its global head of Technology, Media and Telecommunications (TMT) banking. Based in New York, Jain is expected to start in November and report to Jan Laubjerg, the bank’s global head of sectors coverage.
The appointment signals HSBC’s intent to use its nearly $3.4 trillion balance sheet more aggressively to finance AI infrastructure, particularly in the United States. HSBC also aims to grow its TMT market share in M&A and capital markets across Asia and the Middle East. Spending by AI hyperscalers is estimated to exceed $800 billion in 2026.