HSBC closing down IBD in UK, Europe, Americas
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I worked at HSBC and the team there were okay.
I feel bad for a lot of the juniors that will be affected by this, some of them joined less than a year ago and this is already a really brutal market we’re in.
They’ll also be competing with laid off bankers from BBs for spots in tier 2 and 3 banks. I’m sure a few of them will flame out of the banking industry entirely especially because I know at least one person in the UK who is on a visa, everyone I know in NYC is a citizen.
ECM is also getting axed but DCM and RAF will stay.
I wonder how this is going to affect people like Gerry Keefe who just moved to London, he’s an asshole but is a solid banker and seems to have gotten unlucky
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