HSBC’s European credit trading head joins BCS Global in senior markets role

Maxim Safonov joins BCS Global Markets after more than two years leading local rates and credit trading for HSBC in Europe.

The former head of local rates and credit trading for EMEA at HSBC has departed the investment bank to take on a more senior role at Russian brokerage BCS Global Markets.

Maxim Safonov will oversee the markets and investment banking operations at BCS Global in Moscow, London, New York and Cyprus, after being appointed as a senior managing director and head of capital markets and investment banking.

He will deliver the broker’s group strategy across these two segments, and look to increase its overall market share.

Safonov previously spent over two years at HSBC as head of local rates and credit trading in Europe, the Middle East and Africa, after four years leading global markets within Sberbank corporate and investment bank based in Moscow.

“Maxim brings an unparalleled blend of both Russia and international capital markets and investment banking experience,” BCS Global Markets CEO, Roman Lokhov, commented on the new hire. “We have no doubt this will be capitalised upon to bring these businesses to the next level and to help launch new international businesses as part of our diversification strategy.”

Russia-based BCS Global has made moves in recent years to bolster its position in the global market, with several key hires and the launch of a global equity algorithmic trading platform for institutional investors via its US division.

In July, BCS Global poached Deutsche Bank’s head of equities technology in Russia to implement its IT strategy with increased automation and connections to new markets. Dmitry Trub was appointed chief information officer at BCS Global in Moscow, reporting to Lokhov, after almost eight years with Deutsche Bank in various equities technology roles.

“BCS Global Markets has ambitious goals, which includes a major transformation, and a capitalisation, worth one billion US dollars. Our strategy is built accordingly upon the foundation of a world-class team with a formidable international capital markets and investment banking expertise,” Lokhov concluded.