Houlihan Lokey has expanded its London operations with the hire of three former HSBC professionals on its illiquid financial assets team to focus on balance sheet deleveraging across non-core financial assets.
The investment bank appointed Zaman Khan and Christian Scharf as managing directors. They will focus on financial institutions, strategic advisory and tailored deleveraging solutions, according to a statement. At HSBC, Khan was head of special situations and focused on bank deleveraging and stressed opportunity origination and execution.
Scharf was most recently head of debt capital markets for Germany, Austria, Switzerland, and the Netherlands.
The two individuals are “uniquely positioned, particularly with respect to their buy-side experience and approach, to assist European banks in optimising their capital structures and provide regulatory relief where possible, especially as capital requirements tighten,” Paul Sanabria, global co-head of the unit, said in the statement.
The hires comes two weeks after the UK voted to leave the EU, with market sources expecting a rise in GP-led deals in the region.
Khan and Scharf will report to Sanabria and Jeff Hammer, who have led its secondaries advisory business since 2009 and are based in New York.
The investment bank also announced it had hired Thomas Chambers, who worked on special situations at HSBC, as an associate in London.
Houlihan Lokey’s illiquid financial assets unit works with banks, insurance companies, hedge funds, asset managers, pension plans, endowments, public vehicles and governments to sell portfolios of financial assets, according to its website. The unit now has 18 staff in total in London and New York.