The effort really got started in April 2003, when HSBC lured John Studzinski from Morgan Stanley (nyse: MWD - news - people ) to take over as global co-head of the investment bank, along with long-time HSBC insider Stuart Gulliver .

FORBES: HSBC's I-Banking Bet

In addition to those cited in this report, the author is particularly grateful for the insights, many of them off the record, of Hal Sirkin, Nandan Nilekani, Alvaro Rodriguez Arragui, Bernard Charles, Joshua Ramo, Michelle Guthrie, Arjun Divecha, Len Blavatnik, Viktor Vekselberg, Malvinder Singh, Bill Ford, Michael Green, Lord John Browne, John Studzinski, Bill Rhodes, Diana Farrell, Mikhail Fridman, Graham Mackey, Thor Bjorgolfsson, Ram Charan, Nabil Habayeb, Diana Glassman, David Rubenstein, Eli Jacobs, Dambisa Moyo, Alastair Newton and Michael Patsalos Fox.

ECONOMIST: Sources and acknowledgments

The bank's commitment to investment banking looked particularly lame after the departure of John (Studz) Studzinski in April 2006.

FORBES: Magazine Article