HSBC Holdings (HSBC.US, 00005) has hired former Cantor Fitzgerald managing director Paras Jain as its global head of TMT (technology, media and telecommunications) investment banking, according to media reports.

The move represents a senior talent acquisition aimed at expanding the company's investment banking operations in the technology, media and telecommunications sectors.

Sources said Jain will be based in New York and is expected to take up the role in November, reporting to Jan Laubjerg, HSBC's global head of industry coverage.

Jain spent approximately six years at Cantor, where he helped build the firm's technology investment banking team.

According to Financial Industry Regulatory Authority (FINRA) registration records, he served as a managing director at Cantor since January 2021, with that registration terminated in July of this year; prior to that, he was a managing director at Macquarie Capital from 2014 to 2020.

The report noted that before joining Cantor, Jain worked in technology banking at Macquarie Group and Morgan Stanley.

The report also indicated that HSBC is seeking to leverage its approximately $3.4 trillion balance sheet, one of the largest among global banks, to drive financing related to U.S. artificial intelligence infrastructure development, and to expand its mergers and acquisitions and capital markets share in the TMT sector across Asia and the Middle East.