Investing.com -- HSBC Holdings Plc (LON: HSBA ) has laid off over two dozen analysts as part of a major restructuring of its investment banking businesses, Bloomberg reported on Tuesday.
The report added that layoffs included Steven Major, the Dubai-based global head of fixed income research. The majority of the layoffs took place in Europe.
As a part of the ongoing restructuring, the London-based bank is merging its macro strategy across various asset classes, which include foreign exchange and fixed income.
As per the new changes, Murat Ulgen will take on the role of interim head of macro strategy, in addition to his current role as global head of emerging markets research, Bloomberg reported.
Simultaneously, Eliot Camplisson and Raj Sinha will broaden their responsibilities to become co-heads of global equity research, the report said, adding that Janet Henry will maintain her position as the leader of the global economics team.
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