HSBC to shed assets worth $100 billion, slash 35,000 jobs over three years; to combine retail banking and wealth management business unit
In the United States, where the bank has underperformed for years, HSBC said it needed to improve returns and would close around a third of its 224 branches and target only international and wealthier clients.
The reported job cuts come after HSBC said it would be laying off about 4,000 people this year, and issued a gloomier business outlook
HSBC CEO John Flint steps down by 'mutual agreement' after 18 months; new leadership needed in economic uncertainty, say bank
HSBC on Monday announced the surprise departure of CEO John Flint after just 18 months, saying new leadership was needed a
The debt, bought primarily by Taiwanese life insurance companies, offers investors a fixed interest rate of 5 percent, payable half-year, the company said in a statement.
The initiative, called "Neptune," will not be for executing trades, rather it will link up banks and investors in the market and potentially some of the existing trading platforms they use