The plan also includes cutting many of vice chair roles in various markets, the people added. It’s not clear how many bankers are affected by the latest moves.
HSBC Holdings is placing some of its investment bankers on short-term retention agreements as it winds down various businesses in a broad overhaul led by new CEO Georges Elhedery, according to people familiar with the matter.
In some cases, the bankers are on three- to six-month work arrangements to finish client mandates across Europe, Asia and the Americas, after the lender said it would shutter selective investment-banking units, the people said, asking not to be identified as the deliberations are private.
