HSBC Holdings plc Sponsored ADR (HSBC)
HSBC considering internal bank merger to cut jobs and costs
HSBC Holdings PLC (LSE:HSBA) is reportedly considering merging its commercial and investment banking divisions in a bid to cut costs. This would see overlapping roles axed, according to Bloomberg, in new chief executive Georges Elhedery's first major move since taking charge earlier this month.
HSBC weighs commercial, investment bank merger to shed costs, Bloomberg reports
HSBC is mulling the combination of its Commercial and Investment banking divisions to eliminate overlapping roles at the lender and cut costs, Bloomberg News reported on Monday, citing people familiar with the matter.
HSBC appoints Jo Miyake as interim CEO of global commercial banking -memo
HSBC has named Jo Miyake as interim CEO of its global commercial banking business, according to an internal memo seen by Reuters on Wednesday, in the latest of a series of appointments since new group CEO Georges Elhedery took charge.
New HSBC boss puts stress on cost control in first staff meeting
Georges Elhedery, the new boss of HSBC Holdings PLC (LSE:HSBA) has stated that cost control is his big priority, as he held his first 'town hall' company meeting since taking the role. HSBC's cost base is regularly questioned by banking analysts, who suggest it is higher than peers.
HSBC has edge over Standard Chartered in Asia-focused stakes, says US bank
HSBC Holdings PLC (LSE:HSBA) has a clear edge over Standard Chartered PLC (LSE:STAN) in the battle of the Asia-focused banks, which analysts at US bank Citi doubt can be made up. The banks have similar strategies, notes Citi, but HSBC seems better placed, with a more concentrated Asia footprint, a superior business mix, greater efficiencies and larger structural hedge.
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HSBC global sales head Allegra Berman leaving the bank, memo says
Allegra Berman, global head of institutional sales at HSBC, is leaving the bank at the end of September, according to an internal memo seen by Reuters on Tuesday.
HSBC new CEO Elhedery 'committed' to build on current strategy
HSBC's new chief executive Georges Elhedery, who took the helm at the Europe's largest lender on Monday, said he was committed to build on the bank's current strategy, according to an internal staff memo.
Natwest and HSBC stand out in good UK bank sector, says Citi
UK banks are still in favour with UK bank Citi after the latest chunk of Bank of England mortgage data. Indeed, the only negative Citi can find is an uptick in the deposit-mix shift, but even here there is lower than last year it says and deposit activity overall is stable.
HSBC's Next CEO Plans to Trim Middle Management to Save Costs
HSBC's incoming CEO plans to trim middle management jobs to streamline operations,, improve efficiency and reduce costs.
HSBC shakes-up senior managers ahead of new boss starting
HSBC Holdings PLC (LSE:HSBA) has confirmed changes to its senior and middle management as new chief executive Georges Elhedery takes over Elhedery replaces Noel Quinn on 2 September and, ahead of that, HSBC has shuffled several people in his management team. Barry O'Byrne, currently global commercial banking chief is to become chief of global wealth and personal banking with Nuno Matos stepping down for another role in the group.
HSBC wealth CEO Matos steps down as bank unveils major executive shake-up
HSBC's CEO of Wealth and Personal Banking, Nuno Matos, is resigning to pursue other opportunities, the Asia-focused bank said on Thursday as it unveiled a significant shake-up in its leadership team on the eve of Georges Elhedery starting as CEO.
