Due to the department merger, HSBC's head of securities financing in the U.S. will resign
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Gregory Bunn, the Head of Securities Financing for HSBC Americas, will leave after two years in the position, as the department is being merged into other divisions. HSBC announced a restructuring plan earlier, reducing some equity-related businesses. After the restructuring, the securities financing business will be managed under the equities and fixed income departments. Last year, HSBC's securities financing business revenue grew by 36% year-on-year. This restructuring is part of a large-scale business reform initiated by the new CEO Georges Elhedery
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