HSBC's new global wholesale banking division is set to announce the first round of job cuts within weeks, focusing on senior-level positions. CEO Michael Roberts emphasized that the ongoing restructuring, initiated by group CEO Georges Elhedery, will be executed thoughtfully and swiftly.
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.
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