Senior Equity Research Analyst (US Utilities & Industrials)

If you’re looking for a career that will help you stand out, join HSBC, and fulfil your potential - whether you want a career that could take you to the top, or an exciting new direction, we offer opportunities, support and rewards that will take you further.

We’re one of the largest banking and financial services organisations in the world, with a network that covers more than 50 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people fulfil their hopes and realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of Senior Equity Research Analyst (US Utilities & Industrials) to produce differentiated, fundamental research to support active investment decisions across public equities. You’ll take primary coverage responsibility for a defined set of US Utilities and Industrials companies—building investment theses, valuation frameworks, and scenario analysis that convert company fundamentals and macro themes into actionable recommendations.

You’ll work closely with portfolio managers and the global research platform to build conviction, manage downside risk, and identify opportunities through the cycle—where regulation, capex, energy transition dynamics, and industrial demand can rapidly change the investment outlook.

As an HSBC employee in the UK, you’ll have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.

In this role you’ll:

• Own fundamental coverage of a defined universe of US Utilities and Industrials stocks, including forecasts, valuation frameworks and upkeep of core models
• Generate differentiated, actionable investment ideas (buy/sell/hold, relative value and catalysts) with clear thesis, variant view, and explicit downside/risk framing
• Translate key drivers—regulation/rate cases, capex and FCF profiles, grid investment, energy transition/electrification and industrial end-demand—into scenario and sensitivity analysis
• Engage externally (management meetings, expert networks, channel checks) to test assumptions, identify inflection points early and sharpen conviction
• Deliver timely, decision-useful written research (initiations, earnings notes, updates, thematic work) and communicate succinctly with portfolio managers and senior stakeholders
• Partner with portfolio managers and the global research platform to align research priorities with portfolio positioning, risk budgets and governance/compliance standards

To be successful in this role you should meet the following requirements:

• Proven fundamental equity research experience (buy-side or sell-side), ideally covering US Utilities and/or Industrials
• Advanced financial modelling capability (three-statement, valuation, scenario/sensitivity work) with strong judgement on key assumptions and data quality
• Strong grasp of sector-specific valuation and drivers (e.g., regulated ROE/rate base and rate cases; capex intensity, cyclicality, margins and cash generation)
• Track record of generating investment ideas that translate into portfolio actions, with disciplined monitoring of catalysts and risk
• Clear, concise communication—able to explain complex analysis in writing and verbally to portfolio managers and senior stakeholders
• High integrity and strong execution under pressure; collaborative, global mindset; CFA or equivalent qualification preferred (or demonstrable equivalent experience)

Opening up a world of opportunity.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces - no matter their gender, ethnicity, disability, religion, sexual orientation, socio-economic background or age. We are committed to removing barriers and ensuring careers at HSBC are inclusive and accessible for everyone to be at their best. We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long term conditions or neurodivergent candidates who meet the minimum criteria for the role.

If you have a need that requires accommodations or changes during the recruitment process, please get in touch with our Recruitment Helpdesk via [email protected] .