HSBC Hit By Further Defections

It now emerges that a 'significant part' of its investment trust team has been poached by Winterflood Securities.

This latest move is but the latest in a long line of defections over the last few weeks, which has seen the departure of Mark Brown, the bank's much respected global head of research and Mike Lever, the highly rated banks analyst. HSBC has also suffered due to the loss of their high profile metals and mining research teams.

Most of those leaving are thought to have become concerned about whether HSBC remained committed to investment banking in the light of its decision to significantly reduce its bonus pool this year in order to contain costs.