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Traders Magazine, June 1999

John A. Byrne

Mass Hire

The institutional trading team at HSBC Securities, a unit of HSBC Holdings in London, has moved en masse to Advest, a cross-town rival in New York. The team of five pros made the move after HSBC pulled the plug on its U.S. institutional equity-trading operations. As a result, Hartford, Conn.-based Advest sees its institutional desk doubling to ten pros.

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