Strategic Restructuring
introduces a comprehensive overhaul, dividing its operations into four distinct business units and creating eastern and western markets to streamline governance and address geopolitical tensions.
The restructuring aims to simplify processes, reduce duplication, and enhance focus on core strengths, including the and markets, corporate and institutional banking, and wealth management.
Leadership and Operational Changes
Pam Kaur is promoted to CFO, marking a historic first for HSBC. The bank continues its hiring spree in the UK, targeting a larger share of the wealth management market.
The overhaul, effective January 1, 2025, also includes pausing hiring in some units and reducing travel and entertainment expenses, reflecting a strategic pivot towards efficiency.