Former HSBC banker Lake joins fintech revolution

Financial News Logo - Spencer Lake HSBC

Former head of the bank’s capital financing unit takes new role at one of its suppliers

By Tim Burke April 12, 2017 Updated: 1:12 p.m. GMT

Spencer Lake, a former HSBC banker who led the group’s global capital financing business, has joined a fintech firm that boasts the UK bank as one of its main clients.

Lake has been named vice-chairman of Fenergo, a Dublin-based firm that makes what it calls client lifecycle management software, according to a statement from the company on April 12.

Lake spent 10 years at HSBC, including stints running debt capital markets and acquisition finance, global markets and capital financing. He quit the bank in September 2016, months after the capital financing unit was merged into a new global banking business. At that point he was vice-chairman of global banking and markets.

READ: The 10 fintech firms to watch

Earlier in his career lake worked at Merrill Lynch and JP Morgan. He is also chairman of the International Capital Market Association.

In the announcement of Lake’s hire, Fenergo chief executive Marc Murphy said: “Spencer brings a huge amount of experience having built a successful career in investment banking over the last 29 years.”

Fenergo says its software helps banks to manage the regulatory onboarding of new clients. On its website, a list of clients includes HSBC, BBVA, BNY Mellon, Westpac and Scotiabank.

 

Useful resource

Client Onboarding Lifecycle Management

Fenergo Client Onboarding Lifecycle Management (COLM) is an end-to-end, out-of-the-box solution that enables financial institutions to provide a quick and efficient onboarding process for new and existing clients.

Read more
TOP