HSBC is restructuring its trading department and forming a new global macro division in an attempt to become a giant in debt financing business.

HSBC Holdings will restructure its trading department in order to achieve CEO Qi Ai's goal of establishing the bank as a giant in the debt financing business. The memo indicates that the company will integrate the G-10 interest rate trading team with its forex, emerging market interest rate, and commodities trading teams to form a new global macro department. The memo also states that the derivatives clearing services team will be merged into the global equities team.