HSBC Holdings has decided to change its organisational structure into four businesses as the London-headquartered bank looks to save costs under its new group chief executive officer CEO Georges Elhedery.
From January 1, 2025, the company will operate through four businesses Hong Kong the UK corporate and institutional banking and international wealth and premier banking.
Last year the bank resisted pressure to extract its Asia unit from shareholder Ping An, a Chinese insurance giant.
The bank said that the changes will reduce the duplication of processes and decision making in the current structure and will result in greater alignment...
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