Gregory Bunn leaves New York U.S. Securities Financing
HSBC Securities Financing Will Be Accepted by Stocks, Fixed Income
A HSBC spokesperson declined to comment
LONDON, April 8 (Reuters) – HSBC’s head of securities financing for Americas Gregory Bunn left after two years of post office as lenders merged the force into two other people, a person familiar with the matter told Reuters.
The restructuring was announced earlier this year, when HSBC told staff that the bank would end some of its stock operations, including stock underwriting in Europe and the Americas.
The London-based bank is one of the few on Wall Street, which reports on the performance of its securities financing operations, and its services include Prime Finance and Repo Products. The person added that after the restructuring, the business will be absorbed by stocks and fixed income units.
A HSBC spokesman declined to comment.
According to the latest HSBC annual report, revenue from securities financing rose 36% last year, while in 2023 the bank won new clients from major financial clients thanks to the latest HSBC annual report.
In December last year, the HSBC Marketing Division merged into corporate and institutional banking.
Due to the restructuring, Loic Lebrun, the leading global head of finance, will report to Franck Lacour, who leads the stock, while Repo Repo Jean-Michel Meyer head will report to Mehmet Mazi, head of global debt markets.
It has begun major reforms under CEO Georges Elhedery, who took over in September last year, and is expected to pay $1.8 billion by the end of next year.
According to his LinkedIn profile, HSBC Bunn, who joined the company, declined to comment on this article, spent nearly two decades at Deutsche Bank. (Reported by Stefania Spezzati; Edited by Jan Harvey)
