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Investing.com -- HSBC Holdings Plc (LON:HSBA) is set to scale down its investment banking operations in certain regions as part of an ongoing restructuring process led by CEO Georges Elhedery. The bank will cease providing equity underwriting and advisory services in Europe, the UK, and the Americas, focusing instead on its core operations in Asia and the Middle East.
This decision was disclosed in an internal memo reviewed by Bloomberg News. The memo stated that the bank aims to retain a more concentrated M&A and equity capital markets capabilities in Asia and the Middle East, while winding down these activities in Europe, the UK, and the Americas.
This move is the latest in a series of strategic changes under the leadership of CEO Georges Elhedery, indicating his readiness to make bold decisions in restructuring the bank. These changes are part of a broader effort to streamline operations and focus on areas of strength for Europe's largest lender.
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