HSBC promotes Asia Pacific prime finance trading boss -sources

A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China August 4, 2020. REUTERS/Tyrone Siu

LONDON (Reuters) - HSBC has promoted Christophe Oleron to the role of Global Head of Trading for index arbitrage, Delta One and stock borrowing & lending, two sources said on Thursday.

Oleron, who formerly served as head of prime finance trading for the Asia Pacific region, was one of a number of senior Hong Kong-based employees rumoured to be quitting HSBC last month, following news that global equities boss Hossein Zaimi was leaving the bank, a third source said.

Oleron will remain in Hong Kong and report to Loic Lebrun, HSBC’s global head of prime finance, who is based in London.

HSBC declined to comment.

HSBC warned on Monday its bad debt charges could blow past a previous estimate to $13 billion this year and said its profits more than halved, as the coronavirus pandemic hammered the bank’s retail and corporate customers worldwide.

Reporting By Sinead Cruise, editing by Lawrence White