HSBC asks managers to reapply for jobs in global cost-cutting drive Banking HSBC is forcing managers in its newly formed corporate and institutional banking arm to reapply for their jobs as part of a sweeping cost-cutting drive, according to reports. Hundreds of managers have been asked to interview for their roles as the lender merges its corporate and investment banking businesses in a seeping restructuring plan, unveiled [...]
HSBC chief Elhedery says no plans for Asia spin-off in global revamp Banking HSBC’s new chief executive has insisted his redrawing of the bank’s operations between East and West is not a precursor to the kind of break-up demanded by one of its biggest shareholders last year. Speaking after HSBC’s third-quarter results on Tuesday, Georges Elhedery said the main reason for his overhaul “is to make us a [...]
HSBC shares pop as bank beats profit estimates and launches $3bn buyback Banking HSBC has unveiled its latest share buyback after beating profit estimates in the third quarter as the Asia-focused bank gears up for a major restructuring.
HSBC: The questions investors want answered on Elhedery’s East-West split October 22, 2024 HSBC’s new chief executive has made his play to cut costs and home in on core divisions at Europe’s biggest bank, including splitting its businesses into Eastern and Western camps amid geopolitical tensions.
Who is Pam Kaur? Meet HSBC’s first female finance chief October 22, 2024 HSBC broke new ground today as Pam Kaur became the bank’s first female chief financial officer since its foundation in Hong Kong in 1865. The promotion will make Kaur one of the most senior women in global banking and hand her responsibility for slashing the bank’s cost base while shepherding it through a major corporate [...]
HSBC’s new boss unveils major restructuring October 22, 2024 HSBC's new boss has unveiled a sweeping overhaul of its global structure as Europe's biggest lender also appointed its first female finance chief.
HSBC’s new boss mulls $300m cost-cutting plan targeting senior bankers October 10, 2024 HSBC's new chief executive is reportedly drawing up cost-cutting plans that could save Europe's biggest lender up to $300m (£229m) by reducing top management layers.
HSBC considers naming first female CFO in bank’s 159-year history September 24, 2024 HSBC is reportedly considering naming its first female chief financial officer in its 159-year history, with Pam Kaur said to be a favourite for one of the top jobs at Europe's biggest bank.
HSBC mulls merger of investment banking and commercial arms in cost-cutting drive September 9, 2024 HSBC is mulling a merger of its investment and commercial banking arms as part of a push by new chief Georges Elhedery to slash costs, according to reports. Elhedery, who took over as group CEO last week, is considering combining the lender’s global banking and markets arm with its trading and investment banking division, Bloomberg [...]
HSBC reveals senior management shake-up under new boss August 29, 2024 HSBC has announced the departure of three top executives as part of sweeping changes to the bank's management ahead of its new chief executive taking over next week.