HSBC Reportedly Considers Commercial-Investment Bank Merger
HSBCHSBC HOLDINGS(HSBC) PYMNTS.com·2024-09-10 01:57

Banking giant HSBC is reportedly considering a merger of its commercial and investment bank operations.The plan is part of new CEO Georges Elhedery’s effort to eliminate overlapping roles across the company and reduce expenses, Bloomberg reported Monday (Sept. 9), citing unnamed sources.The merger could marry HSBC’s global banking and markets business, creating a combined division with a 90,000-person workforce that would be the bank’s largest driver of revenue at $40 billion a year, according to the report ...