HSBC splits East and West in major revamp and appoints first female finance chief By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: Investing.com
HSBC Restructuring: HSBC Holdings is undergoing a significant restructuring under new CEO Georges Elhedery, merging commercial and investment banking operations, appointing its first female finance chief, and reorganizing its geographic footprint into Eastern and Western Markets.
Management Changes and Future Outlook: The bank is reducing its executive committee size and making several senior management changes while facing challenges in maintaining profits amid falling interest rates; analysts express skepticism about the effectiveness of the restructuring in addressing broader financial issues.
Analyst Views on HSBC
About HSBC
HSBC Holdings plc (HSBC) is a banking and financial services company. Its business segments include Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB). Its Hong Kong business comprises retail banking and wealth and commercial banking of HSBC Hong Kong and Hang Seng Bank. Its UK business comprises UK retail banking and wealth (including first direct and M&S Bank) and UK commercial banking, including HSBC Innovation Bank. The CIB segment is formed from the integration of its commercial banking business (outside the UK and Hong Kong) with its global banking and markets business. The IWPB segment comprises premier banking outside of Hong Kong and the UK, its global private bank, and its asset management, insurance and investment distribution businesses. Its customers worldwide through a network covering 58 countries and territories. Its customers range from individual savers and investors to companies, governments and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
