HSBC Americas head for securities finance leaves amid bank restructuring

Stefania Spezzati

Tue, Apr 8, 2025, 8:26 AM 1 min read

By Stefania Spezzati

LONDON (Reuters) -HSBC's caput of securities financing for the Americas, Gregory Bunn, is leaving aft 2 years successful the station arsenic the lender merges the portion into 2 others, a idiosyncratic with cognition of the substance told Reuters.

The restructuring was announced earlier this twelvemonth erstwhile HSBC told unit that the slope would beryllium winding down immoderate equities businesses, including equity underwriting successful Europe and the Americas.

The London-based slope was 1 of a fewer connected Wall Street to separately study the show of its securities financing business, whose services see premier concern and repo products. The concern volition beryllium absorbed by equities and fixed-income units aft the restructuring, the idiosyncratic added.

A spokesperson for HSBC declined to comment.

Last year, securities financing recorded a surge of 36% successful gross compared to 2023 arsenic the slope gained caller clients successful premier finance, according to the latest HSBC yearly report.

In December past year, the HSBC markets portion was combined into the firm and organization banking business.

As effect of the restructuring, Loic Lebrun, planetary caput of premier finance, volition study into Franck Lacour, who leads equities, portion caput of repo Jean-Michel Meyer volition study into Mehmet Mazi, caput of planetary indebtedness markets, the idiosyncratic added.

Under CEO Georges Elhedery, who took implicit past September, it has started a large overhaul and expects $1.8 cardinal successful expenses by the extremity of adjacent year.

Before joining HSBC Bunn, who declined to remark for this article, spent astir 2 decades with Deutsche Bank, according to his LinkedIn profile.

(Reporting by Stefania Spezzati; Editing by Jan Harvey)