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HSBC will extinguish the key parts of its business banking business in the UK, Europe and America, as part of the Plan for Executive Director Georges Elhedery for overhaul of her business.
The largest European lender will close the advisory merger and acquisition and companies in the capital markets outside Asia and the Middle East, according to a letter on Tuesday.
“The units of” really have no proportions, “said a person with knowledge of a decision. “It was just a very difficult job to build up to the level where [HSBC] has a competitive advantage. “
HSBC They will retain its capital markets, under the influence of finance, realistic financial resources and financial affairs of infrastructure in these markets, said that person.
The move, which first reported Bloomberg, comes while Elhedery, who took over the corner of the bank last year, leads wide range restructuring This divides the bank into the “east” and “western” units.
Globally, HSBC investment banking In the first half of last year, the job consisted of only 6 percent of total revenues, according to a temporary bank report. Investment banking revenues for this period were reduced by 3 percent compared to the year earlier.
HSBC did not immediately respond to the commentary request.
This is a development story
