Overview

• HSBC eliminated over two dozen analyst positions in its European investment banking division to streamline operations.
• Steven Major, the bank’s global head of fixed income research in Dubai, was among those whose roles were cut.
• Macro strategy for foreign exchange and fixed income has been merged under interim head Murat Ulgen.
• Eliot Camplisson and Raj Sinha have been named co-heads of global equity research while Janet Henry remains head of global economics.
• The restructuring will incur $1.8 billion in charges over two years, create a new private credit business and precede senior banker Greg Guyett’s planned departure.