Tuesday, 1 December 2015
Last updated 18 hours ago
Feb 3 2012 | 12:25am ET
HSBC Holdings' New York hedge fund administration unit is the latest victim of the bank's cutbacks in the U.S.
HSBC said it would close the division of HSBC Securities Services in the U.S., potentially costing 200 people in New York their jobs. The bank said it will move the business to Dublin, Ireland, where it already has a substantial administration presence.
But it won't be taking all of its clients with it to the Emerald Isle: HSBC has reportedly told some clients they should seek other fund administrators.
Total job losses from the closure will not be known for between six to nine months. Some positions may be moved to Dublin.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…