HSBC overhaul by new CEO stumps employees, investors alike

Quick Summary:

No sense of how many jobs might be cut or how much money saved.

For instance, the UBS analysts pointed out that the bank made no mention of its Mexican or Australian units, or how the insurance business will fit into its new international wealth arm.

With his new Eastern division, though, Mr Elhedery has effectively created just the type of standalone Asian business that Ping An was pressuring the company to consider – albeit without the separate listing the Chinese insurer had sought.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustraliaFranceHong KongLebanonMaltaSouth Africa

Topics: Structure Bank Elhedery Businesses Left Restructuring Company Hsbc Instance Sense Business

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 07:49:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1140 words

Reading Time: 7 minutes read

Sentences: 44 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23209320

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