New Delhi: HSBC Holdings has fired more than two dozen analysts in recent days as part of its continuous reorganisation of its investment banking business, Bloomberg said.
According to the reports, Steven Major, global head of fixed income research at HSBC with headquarters in Dubai, was among those impacted by the change. The majority of these cuts occurred in Europe.
HSBC is integrating macro-strategy across asset classes, such as foreign exchange and fixed income, as part of the extensive adjustments.
In addition to his current position as global head of emerging markets research, Murat Ulgen will now serve as interim head of macro strategy, according to reports.
Janet Henry will continue to oversee the global economics team, while Eliot Camplisson and Raj Sinha will take on the responsibilities of co-heading equity research globally.
According to those acquainted with the situation, the corporation is also in the process of eliminating a few vice-chairman positions that were under the supervision of Greg Guyett, the former head of the bank’s international investment banking division.
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