Mark Pannes has left his role as head of the global sports group at HSBC Private Bank, and will be returning to the US to work for the hedge fund firm Raptor Capital Management, WealthBriefing understands.

He joined HSBC in 2006 to spearhead the launch of the bank’s global sports division, and went on there to strike a high-profile partnership deal with IMG Worldwide, the sports marketing giant which has counted golfing stars such as Tiger Woods, Colin Montgomerie and Sergio Garcia among its clients.

Exact details of his role at US-based Raptor Capital Management have not emerged yet; however, it is understood he will not be working in an investment management capacity.

It is not known who will replace Pannes at the private bank yet, which declined to comment further on the departure when contacted by this publication.

The sports world, with its high levels of pay, is considered an attractive client segment for private banks. As well as HSBC, firms such as Barclays Wealth and Coutts & Co have set up client groups such as sports, media and entertainment to go after these clients, and also as a way to stand apart from rival private banks.