HSBC considers merging commercial and investment banking divisions to streamline operations.
HSBC Holdings is contemplating merging its commercial and investment banking divisions to streamline operations and reduce costs, as reported by Bloomberg. This potential merger, aimed at eliminating redundancies, could create the bank’s largest revenue source, generating approximately $40 billion annually. The plan is part of HSBC's broader strategy to simplify its business amid ongoing challenges in the financial sector; no final decision has been made yet.
September 09, 2024
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