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HSBC fuelling its IB fires in Asia

HSBC fuelling its IB fires in Asia

(Hong Kong) - HSBC's investment banking operation is planning to hire up to 150 new staff in Asia through to 2007, as a means of further priming the pump that already generates half the Bank's global pre-tax profits. The additional resources will be focussed on capital markets business, specifically in currency and interest rate derivatives trading and sales.

Further debt advisory headcount is also planned, both originators in a country's local market currency and securitisation as well as institutional FX sales, together with corporate finance and broking business staff.

The Bank has recently merged its commercial and investment banking businesses in a customer service strategy.

The existing 2000 global headcount in HSBC's investment banking businesses generated some 46 percent of its global income of US$8.8 billion pre-tax profits in 2001, with Asia contributing nearly half.
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