HSBC Securities has appointed Nicholas Letica as managing director and head of collateralised mortgage obligation trading as part of the expansion of its mortgage-backed securities business.

Letica will report to Neal Leonard and Todd White, co-heads of mortgage-backed securities. His primary responsibility will be the development of HSBC's collateralised mortgage obligation business for agency and non-agency securities.

Carrie Ann Wharton in New York

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