As part of the new geographic set up, it will have an Eastern regional unit including Asia Pacific and the Middle East, and a Western market that includes non-ring-fenced bank in the UK, Europe and the Americas. It also made Hong Kong and UK standalone units.
HSBC Holdings Plc unveiled a broad restructuring across different business lines and geographies as newly appointed CEO Georges Elhedery embarks on ambitious cost cuts at the banking behemoth.
The lender will combine its global commercial and institutional banking operations under Michael Roberts, according to a statement. It will also create a new International Wealth and Premier Banking business to be overseen by Barry O’Byrne.
