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HSBC hires Dermot Murphy, Mahmoud Atalla for credit situations group, to be based in London

HSBC has announced the appointments of Dermot Murphy and Mahmoud Atalla as managing directors, responsible for building the newly formed credit situations group (CSG) within the bank’s global credit division.

Murphy and Atalla will focus on the trading of special credit situations in the bond and loan space. Both will be based in London and will report to Asif Godall, head of European credit trading.

Murphy joins from UBS, where he was co-head of sub-investment-grade trading. He previously worked at Credit Suisse and before that at Merrill Lynch as head of distressed debt and special situations.

Atalla was recently head of HSBC U.K. principal investments, having previously worked at Montagu Private Equity and having served as global head of Amanah Principal Investments, as well as in related advisory, corporate, and real-estate investment roles with HSBC in New York, London, and Dubai.

CSG, an extension of HSBC’s existing credit product suite, will enable the bank to source, analyse, and risk-manage opportunities that are coming from deleveraging, restructuring, and stressed situations across Europe. – Luke Millar