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HSBC Holdings Plc is set to wind down investment banking operations in Europe, the UK, and the Americas, focusing instead on Asia and the Middle East. The restructuring, led by CEO Georges Elhedery, aims to enhance competitiveness and reduce expenses by at least $3 billion. While equity underwriting and advisory services will be cut, debt underwriting and leveraged acquisition finance will continue.
A brewing crisis in Britain's car finance industry has emerged following an 11-month investigation by the Financial Conduct Authority, revealing that approximately 40% of loans arranged by car dealerships included hidden commissions unbeknownst to customers. This scandal raises significant concerns about transparency and consumer protection in the sector.
Harry Wilson
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hsbc to scale back investment banking operations in us and europe
United States Dollar
HSBC Holdings plc
GBR
Helene Durand
Harry Wilson
Georges Elhedery
Nuno Matos
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12:31 28.01.2025
hidden commissions uncovered in uk car finance scandal
06:00 26.11.2024
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