HSBC Kicks Off Biggest Restructuring in a Decade Under New CEO
- Lender also announces Pam Kaur as its first-ever female CFO
- Georges Elhedery has sought to reduce complexity, trim costs
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HSBC Announces Restructuring, Appoints Female CFO
By Harry Wilson, Ambereen Choudhury, and Denise Wee
22 October 2024 at 12:14 PM SGT
Updated on
22 October 2024 at 3:23 PM SGT
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HSBC Holdings Plc unveiled a broad restructuring across different business lines and geographies as newly appointed Chief Executive Officer Georges Elhedery embarks on an ambitious effort to cut costs at the banking behemoth.
The lender will combine its global commercial and institutional banking operations under Michael Roberts and it’s creating a new international wealth and premier banking business that will be overseen by Barry O’Byrne. It’s also revamping its regional operations around the world.
