HSBC Holdings Plc CEO Georges Elhedery has made it clear that the bank's recent restructuring plan is not intended to break up the institution. He emphasized that the new structure, which divides the bank into western and eastern units, is not a response to geopolitical tensions or the previous push by Ping An Insurance Group Co. to separate its Asian operations.
Elhedery reiterated that the changes are part of a strategic revamp aimed at improving operational efficiency and better serving clients across different regions. The CEO's comments come amid ongoing discussions about the future direction of major financial institutions in a rapidly changing global market.