The London-headquartered bank plans to save $300 million this year and aims to reduce its cost base by $1.5 billion by the ...

HSBC expects to incur $1.8 billion in expenses by the end of next year related to an overhaul initiated by its new CEO to cut ...

Banking giant HSBC said Wednesday that CEO Georges Elhedery's plan since October to simplify the company's structure and ...

HSBC HSBA.L posted annual profit on Wednesday that beat estimates, helped by increased revenue in wealth and markets ...

Another major bank is walking back climate commitments made when ESG was all the rage. HSBC on Wednesday delayed by two decades a goal announced during the pandemic to eliminate greenhouse-gas ...

HSBC Holdings Plc expects $1.8 billion in costs over the next two years as it embarks on a global restructuring program that has seen the lender shutter some of its businesses and slash management ...

CEO Georges Elhedery said in a results conference call that there is no target number of layoffs set by the bank, and that ...

The results are the first under former CFO Georges Elhedery, who took over as CEO in September from Noel Quinn. Elhedery's cost-cutting plans include simplifying HSBC's structure. Its Asia-Pacific ...

cost management and targeted investments under Group CEO Georges Elhedery. Profit before tax rose by $2 billion to $32.3 billion, according to a statement published by HSBC yesterday. For all ...

It follows the departure of HSBC’s chief sustainability officer late in 2024 after chief executive Georges Elhedery removed the role from its executive committee in a management reshuffle.

The London-based bank’s chief executive is concentrating on streamlining the lender’s businesses and reducing costs.