LONDON, Dec 16 (IFR) - HSBC has appointed Paul-HenryBacher as global head of fixed income e-trading as the banksteps up electronic trading in this area.
Bacher will report to Mehmet Mazi, global head of tradedcredit, and Christophe Rivoire, global head of flow rates,according to a memo sent by the pair.
Mazi and Rivoire said electronic trading is playing apivotal role in the transformation of its fixed income businessto grow revenues and gain market share.
Bacher will be tasked with driving the implementation ofadvanced electronic and algorithmic trading across credit andrates.
Bacher joined HSBC as head of rates e-trading from CreditSuisse earlier this year and has been running electronic marketmaking and algorithmic trading desks since 2006.
HSBC also said Harsh Kumar had joined the bank as head offixed income e-trading for the Americas. He was most recentlyhead of e-rates in the US at Barclays and will report to Bacherand Michael Yarian, head of credit and rates in Americas.
Alexandre Guignot has also moved internally to become ane-credit trader and will report to Bacher, the memo said. (Reporting by Steve Slater, editing by Christopher Spink)
HSBC Holdings (HSBA)