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hsbc to scale back investment banking operations in us and europe

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.
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