HSBC Trims China Debt Team in Hong Kong Amid Deal Slump
- China offshore bond sales plunge 45% this year amid turmoil
- Banks have been reviewing headcount, cutting debt staff
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HSBC Holdings Plc is trimming the number of bankers focused on Chinese debt issuance amid a slump in bond deals from the world’s second-largest economy.
Two vice presidents, who covered China debt markets, are leaving the firm, according to people familiar with the matter. With that the Hong Kong-based team covering Greater China debt capital markets will shrink to one managing director and five directors, said the people, asking not to be named speaking on personnel issues.