HSBC Securities USA has hired one government bond trader and lost another. Chris Sheehan recently left Morgan Stanley and joined HSBC as a senior v.p./senior trader. He will handle Treasuries with maturities of 22 months and in. He reports to James Combias, managing director and head of the coupon trading desk, according to Pamela Plehn, a spokeswoman. Mark Lake, a spokesman for Morgan Stanley, confirmed Sheehan's departure but declined further comment.
On the flip side, Chris Scaring, an intermediate government bond trader, recently left HSBC and moved to Bear Stearns in a similar role. He reports to Bob Lunder, head of government bond trading. Lunder referred calls to Russell Sherman, a Bear Stearns spokesman. He did not return a call by press time.