HSBC has parted with its head of foreign exchange trading for Europe, Middle East and Africa, Stuart Scott, a source with knowledge of the decision said on Wednesday.
"He has gone," the source said, adding that the move was broadly in the context of a global investigation into manipulation of currency markets which saw HSBC and five other banks fined a total of $4.3bn last month.
Reuters reports that Scott's departure, first reported by the Wall Street Journal on Wednesday, follows the departure of two London-based currency traders at HSBC in October.
They were Serge Sarramegna, who had been the bank's UK head of G10 foreign exchange cash trading, and Edward Pinto, who traded Scandinavian currencies.
To access the complete Reuters article hit the link below:
HSBC dismisses head of FX trading for EMEA - source
UK trade deficit hits seven-month low in October, helped by slower oil imports