Research Analyst, Global Healthcare

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’re seeking an Equity Research Analyst to produce high conviction, differentiated research on Pharmaceuticals and Biotechnology companies for institutional investors. You will combine scientific understanding with rigorous financial analysis to generate actionable investment views, support client engagement, and contribute to a best-in-class research franchise. If you’re excited by the idea of combining science with markets and developing the financial toolkit required for equity research, we would welcome your application and a conversatio

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 will:

- Create and publish proprietary equity research on Pharma and Biotech coverage, including stock ratings
- Conduct research across macro, industry, and company levels, translating scientific/clinical developments into investment implications
- Develop and maintain financial models and perform valuation analyses
- Generate investment ideas and timely commentary around catalysts (trial readouts, regulatory decisions, M&A, earnings, policy changes)
- Produce high-quality written outputs, initiation notes, earnings updates, thematic pieces, and event-driven research
- Perform deep due diligence on pipelines, mechanisms of action, competitive landscapes, pricing/reimbursement, and regulatory pathways
- Engage with external experts (KOLs, physicians, scientists) and interpret clinical data, publications, and conference content
- Maintain a strong understanding of key industry trends (innovation platforms, biosimilars, specialty pharma, rare disease, oncology, etc.)
- Partner with Sales & Trading to ensure research is effectively delivered to institutional clients
- Support and participate in corporate access activities with senior management teams (CEO/CFO/CSO/Head of IR), including non-deal roadshows, conferences, field trips, and calls
- Build credibility with buy-side clients through thoughtful discussion, responsiveness, and clear articulation of investment theses

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

- Relevant experience in equity research, investment analysis, or a closely related role (eg: healthcare investing, strategy, consulting, corporate finance, or scientific/clinical roles with some market exposure)
- Strong analytical capability with demonstrated experience in financial modelling and valuation
- Excellent written and verbal communication skills, ability to produce clear, decision-useful research under time pressure
- Proven ability to work effectively in a fast-paced, collaborative environment with strong attention to detail and accountability
- Educational background in Natural Sciences, Pharmacy, Biomedical Sciences, or Medicine
- Demonstrable interest in financial markets and investing; prior exposure to institutional clients is a plus
- Strong judgement, intellectual curiosity, and a “follow the evidence” mindset
- Confident stakeholder management with corporates and clients; professional presence in meetings and events

Opening 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 hsbc.recruitment@hsbc.com.