HSBC plans to restructure its global banking division, slashing five of jobs and shrinking its investment bank by 33% in an effort to cut costs and boost profits. The bank is set to re-integrate capital finance business back into its global banking including the creation of a new corporate, financials and multinationals banking unit to improve shareholder returns following increased profitability and efficiency.
HSBC plans to restructure its global banking division, slashing almost a fifth of jobs and shrinking its investment bank by 33% in an effort to cut costs and boost profits. The bank is set to re-integrate capital finance business back into its global banking including the creation of a new corporate, financials and multinationals banking unit to improve shareholder returns following increased profitability and efficiency.