HSBC strengthens insurance team

HSBC has added two senior figures to its debt capital markets insurance solutions group for Europe, the Middle East and Africa.

Dick Rae has joined as managing director in the ISG from Deutsche Bank, where he was co-head of its strategic solutions group and chief executive of Abbey Life Assurance Company. Rae will be responsible for UK coverage.

Kaare Simonsen has joined as director in the insurance solutions group with responsibility for driving asset liability management strategy and quantitative content development. Simonsen joins from ABN Amro/RBS. Previously he worked at Morgan Stanley. Both hires will report to Simon Hotchin, who heads the group.

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