The move is part of the bank’s restructuring business.
Bloomberg reports that HSBC is not letting up hiring for its equities business in Asia-Pacific, recruiting top executives from Deutsche, Citi and CLSA in an attempt to beef up its business against declining trade commissions.
Senior hires have included Goldman Sachs’ Michael Chandler, the global head of equities sales for Asia Pacific, and Chito Jeyarajah last year.
The hires are part of a restructuring of HSBC’s global operation since Hossein Zaimi was appointed to run the business early last year.
On the other hand, German lender Deutsche Bank announced that it’s cutting a quarter of equities jobs and slashing overall positions by at least 7,000 as part of a massive cost cutting programme.
Here’s more from Bloomberg:
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