{
}
HSBC is undergoing a significant restructuring, splitting into four divisions to separate its east and west businesses, as announced by CEO Georges Elhedery. Meanwhile, Deloitte has laid off around 250 employees in the UK, and the IMF has cautioned that rising global protectionism could threaten economic growth, particularly in light of potential tariff increases following a possible Donald Trump election victory. Additionally, South Korea has urged Russia to halt the deployment of North Korean troops in Ukraine.
UBS has maintained a "Neutral" rating for HSBC Holdings, setting a target price of 658 pence. Analyst Jason Napier highlighted the uncertainty surrounding restructuring costs as the bank adapts to a new structure, which could involve significant expenses, although new CEO Georges Elhedery may find ways to reduce costs.
UBS has maintained a 'Neutral' rating for HSBC, setting a target price of 658 pence. Analyst Jason Napier highlighted the uncertainty surrounding restructuring costs as the bank adapts to a new structure under CEO Georges Elhedery, who may also find ways to reduce expenses.
HSBC is undergoing a significant restructuring, reducing its top management from 18 to 12 members and appointing Pam Kaur as its first female chief financial officer. The changes aim to create a more agile organization while maintaining focus on strategic priorities, with no impact on its Swiss operations, which will continue to expand in private banking.
HSBC has announced a major restructuring, creating four business units focused on "Eastern" and "Western" markets, while appointing Pam Kaur as its first female CFO. The overhaul aims to streamline operations and reduce duplication, with potential cost savings of up to $300 million. The bank's recent performance has been strong, with a pretax profit of $21.56 billion in the first half of the year, despite challenges from changing monetary policies.
Georges Elhedery
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
hsbc announces major restructuring amid global economic concerns and job cuts
06:00 23.10.2024
UBS maintains neutral rating for HSBC amid restructuring uncertainties
15:01 22.10.2024
ubs maintains neutral rating for hsbc with target price of 658 pence
15:01 22.10.2024
hsbc restructures leadership appoints first female chief financial officer
British Pound Sterling
HSBC Holdings plc
CHE
GBR
HKG
Barry O'Byrne
Georges Elhedery
Pam Kaur
Stephen Moss
Michael Roberts
Show more
10:36 22.10.2024
hsbc announces major restructuring and appoints first female chief financial officer
United States Dollar
HSBC Holdings plc
CHN
HKG
USA
GBR
Pam Kaur
Jon Bingham
Georges Elhedery
Show more
07:57 22.10.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
CEO Changes
Central Bank Actions
GDP Growth & Recession Forecasts
Global Trade Developments
Market Analysis and Predictions
Industry Mergers & Acquisitions
Financial Scams and Security
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Supply Chain Management
Startups & Entrepreneurship
Workplace Trends
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Barclays PLC
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Deutsche Bank Money Market PP
Morgan Stanley
Huawei Technologies CO. Ltd.
Lloyds Banking Group plc
Microsoft Corporation
Credit Suisse Strategic Income I
NVIDIA Corporation
Amazon.com, Inc.
AXA SA
Safran SA
Banco Santander, S.A.
Novartis AG
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Russian Ruble
Australian Dollar
Canadian Dollar
United Arab Emirates Dirham
Indonesian Rupiah
Saudi Riyal
South Korean Won
Danish Krone
Offshore Chinese Yuan
Turkish Lira
Hong Kong Dollar
Mexican Peso
Malaysian Ringgit
People: