BBVA pares Asia equity sales and structuring team
The Spanish bank’s equities unit has taken a substantial hit in headcount – including salespeople and structurers – as part of a cut in global markets staff in Asia.
Banco Bilbao Vizcaya Argentaria has halved the size of its equities team in Asia, which has a strong focus on selling products to institutional investors. This comes as part of a cull in December of one-third of its 85 global markets staff in the region.
Spain's second biggest bank has slashed the equity derivatives team in Hong Kong to 12 from 26 – BBVA doesn’t have a cash equities business in Asia. That accounts for 14 of the 29 departures from the global markets team across Hon…
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