HSBC To Reorganize Asian Operations By End Of Year

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HONG KONG--HSBC is planning a sweeping re-organization of its foreign exchange operations across Asia.

HSBC plans to relocate its spot and forward trading across Asia to Hong Kong--already its local hub for operations--but leave its regional salesforce in place in Singapore, Sydney and Tokyo.

An HSBC official in Hong Kong denies that any job losses will occur saying that "at worst six to 10 people may be relocated". But those traders not wishing to relocate are likely to lose their positions.

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