HSBC Securities USA has hired Walter Travalja, previously of Cantor Fitzgerald, as a managing director and head of securities finance for North America. He started at HSBC at the end of last month and reports to Dan Minerva, managing director and head of Treasuries and securities financing for North America at HSBC Bank USA, according to Pamela Plehn, a spokeswoman. A call to Travalja was referred to Plehn.
Travalja joined Cantor only a few months ago as a head of its repo business and had reportedly recruited a handful of former colleagues to join him there. One outsider notes it will be interesting to see whether Travalja is able to lure any Cantor employees to rejoin him at HSBC. Tom Ryan, a Cantor spokesman, confirmed Travalja's departure but declined further comment.