A pair of New York-based senior energy and infrastructure project finance bankers are understood to have left HSBC this month.
The bankers, Jim Kaiser and Raphael Dumas, were registered as brokers with the London-headquartered bank until April 16, according to the Financial Industry Regulatory Authority's records.
Bankers away from HSBC and other market observers tell PFR that the two bankers left the firm recently, but the circumstances could not immediately be established.
Spokespeople for HSBC did not respond to inquiries and the bankers themselves could not be reached. Duncan Caird, the firm's head of Americas infrastructure and real estate, also did not respond to an inquiry.
"We heard some folks left, however I would note that the team we work with is intact and are bidding/working on new deals for us so remain active from our perspective," said an official at a renewables sponsor.
Kaiser was a managing director, overseeing a 15-person team covering power, oil and gas and infrastructure transactions in the Americas. He joined HSBC in 2006 from Bank of America, having started his banking career with ABN Amro in 1994.
Dumas, meanwhile, was a director specializing in Latin America project finance (PFR, 3/2/12). He joined HSBC in 2001.
HSBC participated in 12 North American infrastructure project finance transactions in 2018, according to IJGlobal data. The deals included loans for:
- New Energy Solar's 200 MW Mount Signal 2 solar project in Imperial County, Calif.,
- Deepwater Wind's 30 MW Block Island offshore wind project off the coast of Rhode Island,
- Longroad Energy's 238 MW Rio Bravo wind project in Starr County, Texas (PFR, 6/1/18),
- Sunrun's Hera U.S. residential solar portfolio,
- D.E. Shaw Renewable Investments' 100 MW North Star solar project in Chisago County, Minn., and
- Cubico Sustainable Investments' 75 MW Palmetto Plains solar project in Bowman, S.C.
The bank is also working on a rare tax equity investment to finance Engie North America’s 276 MW Solomon Forks wind project near Colby, Kan. (PFR, 4/24).
Additional reporting by Richard Metcalf.