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HSBC is reportedly considering outsourcing parts of its fixed-income trading business to firms like Citadel Securities or Jane Street, despite denying such plans. While this could reduce capital and tech costs, the bank must protect its lucrative FX trading operations, which are vital to its corporate clients. The historical track record of similar partnerships raises concerns about their effectiveness, making it crucial for HSBC to carefully evaluate any potential alliances.
HSBC is considering outsourcing its fixed income trading to firms like Citadel Securities and Jane Street to cut technology costs, raising concerns among its traders about job security. Meanwhile, Goldman Sachs' London office saw a 50% increase in investment banking fees last year, with average employee pay rising 16% to $764k. The competitive landscape in prime broking may shift if HSBC proceeds with the outsourcing plan.
Jim Esposito
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
hsbc weighs partnership options while protecting its lucrative foreign exchange trading business
12:17 28.03.2025
hsbc considers outsourcing trading to citadel securities amid job concerns
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