HSBC to unveil $1.5bn in savings alongside financial results February 14, 2025 Citing two people familiar with the matter, the FT reported that the savings will largely come from HSBC's decision to withdraw from non-core markets.
HSBC plots $3bn cost savings in new chief’s restructuring December 11, 2024 HSBC is reportedly hoping to realise at least $3bn of cost savings as part of its biggest restructuring in a decade under new chief executive Georges Elhedery. Europe’s biggest lender aims to complete its revamp by next June, Bloomberg News reported. The overhaul will see the London-based lender reorganise into four new divisions and split [...]
New HSBC boss continues leadership reshuffle with more executives to depart December 5, 2024 HSBC has announced the departure of several senior executives in the latest leadership reshuffle overseen by its new chief executive. Georges Elhedery, who succeeded Noel Quinn in September, said the changes will help Europe’s biggest bank “better focus on the businesses where we have clear competitive advantage”. They are part of a sweeping restructuring of [...]
HSBC asks managers to reapply for jobs in global cost-cutting drive November 18, 2024 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 October 29, 2024 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 October 29, 2024 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.