James Milligan, head of trading for HSBC in the Middle East and North Africa, has left his position in the past week, a banking source said on Thursday.
Milligan's role will be scrapped, with his responsibilities in charge of foreign exchange, fixed income and equity moving to the heads of each of the individual sectors in the region, the source said.
Praveen Gupta, head of corporate sales in the Mena region, had also left HSBC, the source said. Gupta left for personal reasons and a replacement would be appointed in due course, the source said.
The bank announced plans in June to slash nearly one in five jobs globally and shrink its investment bank by a third to combat sluggish growth across its global business.
HSBC declined to comment. - Reuters
