Reported 4 days ago
HSBC investors are backing CEO George Elhedery's decision to scale back the bank's investment banking operations, focusing instead on stronger franchises in Asia amidst U.S. tariff pressures. Despite the potential for growth in capital markets due to deregulation, major shareholders agree with the move to streamline operations and save costs, with projections for a significant increase in profits. However, internal concerns persist as job cuts may affect morale and stability in the remaining divisions.
Source: YAHOO