HSBC splits bank between East and West

HSBC Overhauls Bank, Seeking to Balance China and the West
The restructuring of Europe’s largest lender comes as it looks to cut costs and navigate a diplomatic minefield across its sprawling operations.
HSBC splits bank amid growing tensions between China and the West
HSBC has unveiled a sweeping overhaul of the bank by splitting it into East and West, raising fears the move could lead to less scrutiny of its operations in China and Hong Kong.New chief executive Georges Elhedery,
Transcript: HSBC’s east-west split
Sonja Hutson Good morning from the Financial Times. Today is Wednesday, October 23rd and this is your FT News Briefing. Jobs are on the chopping block at another Big Four firm and HSBC is reshuffling its business. Plus, South Korea is accusing Russia of sending North Korean soldiers to fight in Ukraine.
HSBC splits bank between East and West in major overhaul
HSBC's new boss has announced a major overhaul of the bank's structure, splitting geographically into eastern and western markets amid increasing geopolitical tensions and a need to cut costs. The bank said that it was simplifying operations by splitting into four key units,
HSBC to split U.K. and Hong Kong banking arms into two separate units
HSBC’s overhaul will see the bank split into four separate units under the control of two distinct Eastern and Western markets divisions, new CEO Georges Elhedery said
HSBC splits East and West in major revamp and appoints first female finance chief
By Selena Li, Lawrence White and Sinead Cruise HONG KONG/LONDON (Reuters) -HSBC Holdings merged some operations and split its geographic footprint into East and West in a sweeping restructuring under new CEO Georges Elhedery that includes the appointment of the bank's first female finance chief.
HSBC boss splits East and West in major overhaul: Banking giant to divide into four divisions in bid to cut costs
Georges Elhedery (pictured) said the plan to 'simplify' the £123bn banking giant and cut costs would divide it into four.
HSBC: The questions investors want answered on Elhedery’s East-West split
HSBC’s new chief executive has made his play to cut costs and home in on core divisions for the next phase of growth at ...
Exclusive: HSBC probes China Pinnacle wealth business on costs and control, say sources
The Pinnacle review underscores the challenges HSBC faces in boosting revenue in China.  The Greater China region, which ...
HSBC chief Georges Elhedery unveils sweeping overhaul of lender
Bank plans to separate east from west and replace three units with four in a move it says will simplify its business ...
HSBC probes its China Pinnacle wealth business; move could see layoffs, sources say
The bank is also looking at salary structures and probing whether suppliers inflated expenses. Read more at straitstimes.com.
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This scrutiny could potentially lead to layoffs and represents a shift from the bank's previous growth plans for the unit.
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