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HSBA Hsbc Holdings Plc

695.90
0.30 (0.04%)
Last Updated: 15:48:19
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hsbc Holdings Plc LSE:HSBA London Ordinary Share GB0005405286 ORD $0.50 (UK REG)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.30 0.04% 695.90 695.80 696.00 703.40 693.20 693.20 5,715,875 15:48:19
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-bank Holding Company 65.91B 23.53B 1.2338 22.77 535.8B

HSBC to Cut 100 Senior Investment-Banking Jobs Globally

20/01/2017 3:26pm

Dow Jones News


Hsbc (LSE:HSBA)
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By Margot Patrick

 

LONDON--HSBC Holdings PLC is cutting around 100 of its senior investment bankers, adding to cuts last year from a restructuring in HSBC's global banking business.

HSBC in a statement said the bank reviews performance across its global banking and markets business annually and makes "appropriate changes to strengthen and grow the business."

In June, several top bankers departed as part of a reorganization of its global banking division under new co-head Matthew Westerman.

HSBC doesn't disclose the number of employees in the GBM division, but has been cutting tens of thousands of jobs across its operations as part of a broader effort to improve returns. The bank reports fourth-quarter results on Feb. 21.

This week, Chief Executive Stuart Gulliver repeated an estimate he made last year that around 1,000 jobs within the GBM unit could move to Paris as part of the U.K.'s departure from the European Union.

 

-Write to Margot Patrick to margot.patrick@wsj.com

 

(END) Dow Jones Newswires

January 20, 2017 10:11 ET (15:11 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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