Get ready to see those HSBC resumes. The bank cut twenty jobs from its bond group in New York, Bloomberg reports. Quite a few were very senior positions, including two managing directors and a co-head of government bond trading. This follows the reported dismissal of eight investment bankers in Asia.
HSBC Holdings Plc, Europe's biggest bank by market value, cut about 20 positions in its bond group in New York a day after the firm reported a drop in trading revenue, said two people with knowledge of the firings.
Pierre Goad, a London-based spokesman for HSBC's investment bank, confirmed there were dismissals. He wouldn't provide details on the number of job losses or the positions. The reductions were out of a group of 130 worldwide in bonds in New York, Hong Kong and London, according to one of the people.
The departures included Patrick Haskell, 34, a managing director and head of North American interest-rate sales and trading. Haskell, who joined last year from Credit Suisse Group, said in an interview that he resigned. He declined further comment. Michael Furman, 45, a managing director and co-head of rates sales, Greg Bartoli, 29, the co-head of government bond trading, and George Nunn, 38, a derivatives trader, also left. Furman declined to comment, while Bartoli and Nunn couldn't be reached.