HSBC is merging its Global Equity Finance and Delta 1 business with its Prime Services division, and appointing Paul Hamill, former managing director and COO at Citadel, as its new global head of the division to lead the effort.
Cian Burke, former global head of the division, will now oversee both Prime Services and the firms OTC clearing business. Karl von Buren, global head of Equity Finance and Delta 1, will report to Hamill, who will in turn report jointly to Burke and Patrick George, head of Global Equities.
Hamill will concentrate solely on the prime platform and integrating HSBCs Global Equity Finance and Delta 1 businesses, according to a spokesperson.
HSBC launched Prime Services in 2009 initially to encompass its Global Futures and Options, Global Equity Finance, FX Prime Services and Fixed Income and OTC Clearing divisions for hedge fund clients.
(CG)