On the move



HSBC has laid off Jeffrey Tolk, head of structured credit for Asia in Hong Kong, in January, along with several members of his team, according to a market source. HSBC declined to comment on the development. The UK bank has seen several departures from its structured credit business globally in the past few months, including Rick Ziwot, global head of structured credit products in New York, who left in August. He was replaced by Jeff Jakubiak, who was previously head of structured credit

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