Reported 28 days ago
HSBC will announce $1.5 billion in annual cost savings resulting from its restructuring initiatives on February 19, according to the Financial Times. The bank is focusing its operations more on Asia and is planning to wind down its M&A and equities businesses in Europe and the Americas. Under CEO Georges Elhedery's leadership, HSBC is undergoing significant changes aimed at boosting returns, including reorganizing into four business lines.
Source: YAHOO