HSBC global head of electronic equities trading resigns, reports claim

29 June 2010

Kevin Bourne has relinquished his position as global head of electronic equities trading at HSBC, a newspaper report has claimed.

According to Financial News, Mr Bourne had to step down from the role after the bank terminated the position.

An unnamed source told the news provider that he was currently in talks with representatives from HSBC to see if a new post could be found for him within the bank.

Previously the HSBC employee worked for Citigroup as head of equities electronic trading for Europe, the Middle East and Africa.

A spokesperson for the investment bank did not issue any comments relating to the news of Mr Bourne’s departure from the post, the news provider explained.

He was thought to have been originally hired by the bank in 2004 as part of a bid to overhaul its equities trading platforms.

Earlier in the year Stephen Green, chairman of HSBC Holdings, outlined a strategy to focus much of the bank’s new business in Asia.

Mr Green told Le Figaro, a French newspaper, that he wants shares belonging to HSBC to be traded in Shanghai by 2011.

In an interview with Reuters, the bank’s chairman also said that China will become the bank’s most important market.

By Jim Ottewill

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