HSBC hires JP Morgan executive as global precious metals sales lead, sources say

HSBC is hiring JPMorgan executive director James Willis to lead its global precious metals sales, part of a broader reshuffle among major bullion banks in London. The move follows HSBC’s recent hire of Mark Augustynak to run global metals trading and comes amid a wider industry hiring spree after gold surged to record highs. Market participants and banks including JPMorgan, UBS, ICBC Standard and Nomura are expanding or replacing precious-metals staff, reflecting stronger investor interest and trading volumes in the London OTC gold market. The changes may boost banks’ sales and market-making capacity in the largest gold-clearing hub, potentially supporting liquidity as demand for gold remains elevated.