BusinessBusiness

HSBC Stars Walk

It is thought that HSBC Investment Bank have lost five rated analysts to rivals in the aftermath of last year's recent bonus pay-outs, which were believed to be poor in equities and investment banking.

The team, which provides research for banking stocks, was ranked third in the Reuter's survey last year.

Four team members, Michael Lever, David Raye, Ed Allchin and Jonathan Pierce are all thought to be headed for CSFB, who lost two banking analysts to UBS Warburg last year.

According to a spokeswoman for Cazenove, the fifth member, Phil Bolsover, is set to join them.

It is commonly believed that 2001 bonuses for investment bankers and those in equities were poor at HSBC and that many staff are currently on the lookout for a change of job.

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