HSBC's US investment banking cuts go to the very top

Today is the day that HSBC is cutting its investment bankers in America. Multiple sources at the bank say one of its most senior figures is among those affected. 

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Alfred Traboulsi, head of investment banking for the Americas, is understood to have lost his job.

HSBC didn't respond to requests to comment. Nor did Traboulsi. 

Traboulsi joined HSBC from Goldman Sachs in 2014. He initially joined in equity solutions and was made co-head of ECM in 2017 before being promoted to run the investment bank. He appears to have had both fans and detractors, with one insider saying he had been overpromoted and another saying he was great to deal with.

HSBC is closing its M&A and ECM businesses in America, the UK and Europe, so Traboulsi's exit is unsurprising. Asian banks were informed of their fates on Monday, US bankers were informed today and London bankers are due to be informed tomorrow. 

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