HSBC Branch on January 15, 2024 in London, UK. HSBC Bank Plc is a British multinational organization, banking and financial services. HSBCS International includes about 7,500 offices in more than 80 countries worldwide. (Photo by Mike Kemp/in the pictures via Getti Emiez)
Mike Kemp In photos Gety pictures
HSBC It is preparing to download M&A and Market Markets in Europe, the United Kingdom and the United States amid broader reform of its investment banking operations.
“As part of our ongoing efforts to simplify HSBC and increase leadership in the areas of our strength, we end a review of our investment banking business,” a spokesman said on Tuesday. “We will keep more focus of integration and purchase and capital markets in Asia and the Middle East, and we will start getting rid of the activities of the bulletproof and stock markets in the United Kingdom, Europe and the United States, taking into account local legal requirements.”
This announcement comes at a time when the CEO of HSBC Georges ELHEDEY, who entered the leadership role last July, begins the broader reform that targets cost reduction efforts.
In October, the bank revealed plans for New geographical preparation Its operations are to be unified in four commercial units, divided between the “Eastern Markets” branch-Asia, the Pacific and the Middle East-the “Western Markets” division, which includes the UK Bank, the continent, The Continental, European and American works.
This urgent news story is updated.
