Harry Wilson’s Post

HSBC is examining plans that could cut costs by at least $3 billion as it continues to restructure its worldwide operations under new Chief Executive Officer Georges Elhedery. #banking https://lnkd.in/eD-nh3Gk

HSBC is like an oil tanker, it takes a huge effort for such a large Organization to change direction. It has been under pressure from various stakeholders for years to change. From the Asian side, there is pressure to be more Asia focused, from western shareholders there is pressure to seperate its retail banking efforts which make little profit. Yet, as one commentator has said, this announced restructuring has just made its organization even more complicated. HSBC: how simple becomes complicated - https://on.ft.com/3Ai1XD2 via @FThttps://on.ft.com/3Ai1XD2

I just completed HSBC's Commercial Banking on Forage! 🌟 In the simulation I: 🚀 1-Completed a simulation focused on the Relationship and Product Manager roles in the Commercial Banking division at HSBC 2-Advised lending terms to help a client achieve sustainability performance targets 3-Identified risk mitigation strategies to address concerns around implementation of a sustainable supply chain finance solution 4-Summarized the key benefits of HSBC’s sustainable supply chain finance solution #forage #Commercial_Banking #HSBC #Job_simulation

I just completed HSBC's Global Banking & Markets on @[Forage](urn:li:organization:68514998). In the simulation I: * Completed a simulation focused on the type of work undertaken by the Investment Banking & Markets teams in the Global Banking & Markets (GB&M) business at HSBC * Defined the strategic rationale for M&A and filtered target * Analysed transaction data to develop a summary of debt capital markets (DCM) activity * Matched financial products with various clients Check out the simulation here: https://lnkd.in/diwz2ica #HSBC

Inflationary pressures can significantly impact businesses like HSBC by increasing operational costs and affecting loan interest rates. This can lead to higher borrowing costs for consumers and businesses, potentially reducing consumer spending and impacting the bank's profitability. #Inflation #EconomicImpact #BusinessChallenges #OperationalCosts #LoanInterestRates #BorrowingCosts #ConsumerSpending #Profitability #HSBC #FinancialServices #BankingIndustry #EconomicTrends #BusinessStrategy #MarketAnalysis #FinancialManagement #EconomicOutlook #CostManagement #BusinessImpact #FinancialHealth #EconomicPressure

HSBC Global Banking & Markets Job Simulation on Forage - June 2024 Completed a simulation focused on the type of work undertaken by the Investment Banking & Markets teams in the Global Banking & Markets (GB&M) business at HSBC. Defined the strategic rationale for M&A and filtered target. Analysed transaction data to develop a summary of debt capital markets (DCM) activity. Matched financial products with various clients. #HSBC #Globalbanking #Forage #Banking

HSBC is planning to cut costs by at least $3 billion by June 2025 through a restructuring plan led by CEO Georges Elhedery. The plan involves creating four new divisions, reducing senior staff, and potentially cutting wages. Details of the restructuring’s financial impact will be provided alongside HSBC’s full-year results in February.

HSBC is considering combining its commercial banking and global banking & markets divisions into a single, larger business unit. The new combined division would become HSBC's largest revenue generator, contributing around $40 billion per year. The combination would bring together over 90,000 employees across the two divisions, potentially allowing for some elimination of duplicative back-office roles. The proposal has been considered before but was previously opposed by former CEO Noel Quinn. However, with the arrival of new CEO Georges Elhedery, the idea is being reconsidered as part of efforts to simplify HSBC's structure and reduce expenses. Elhedery has emphasized cost discipline since taking over as CEO, and the bank has already begun slowing hiring and reducing travel and entertainment spending. Combining the commercial and investment banking divisions would mirror a similar move by JPMorganChase Chase earlier this year, while Citi has recently broken up its institutional clients group into smaller units. The potential restructuring is part of Elhedery's efforts to put his own stamp on HSBC and continue the bank's strategic pivot towards its core Asian markets. #HSBC #Growth #CostManagement #InvestmentBanking #CommercialBanking #Efficiency I Bloomberg News I Harry Wilson I Ambereen Choudhury I Denise Wee I Laura Noonan I Donal Griffin

#ICYMI Bloomberg News Scoop: HSBC, the Asian focused lender, is weighing a marriage of two key divisions which would house a 90,000 strong workforce, sources say. No final decisions have been made and details of any potential restructuring could still change. Commercial banking, which has offerings for small and mid-size businesses in 50 markets, posted a profit before tax of $13.3 billion in 2023, while the global banking and markets arm brought in $5.9 billion.

HSBC's Major Overhaul: A New Approach in Global Banking? As a ex-HSBC professional, I remain curious about the bank's developments, as it was my first introduction to the world of banking and investment. The latest news on the bank's most significant restructure in a decade could be the sign of innovation for others to follow or solidifying calls from many for the bank to be broken up. This strategic move, led by new CEO Georges Elhedery, aims to simplify HSBC's structure and enhance agility for the 'World's Local Bank'. Key aspects of the overhaul include: - Merging commercial and institutional banking divisions. - Splitting global operations into East and West regions. - Appointment of Pam Kaur as the first female CFO in HSBC's 159-year history. - Set to commence in 2025, this restructure demonstrates HSBC's proactive approach to adapting to shifting market conditions and geopolitical realities. It's a bold step that could redefine the bank's position in the global financial sector and set a trend for others to follow. As the East-West split could potentially allow for more tailored strategies in diverse markets. Meanwhile, the merger of banking divisions could streamline operations and improve client services. Pam Kaur's appointment as CFO is a landmark moment, showcasing progress in diversity at the highest levels of finance. As the industry evolves, it's crucial for institutions like HSBC to stay ahead of the curve. This restructure may well be the key to maintaining and enhancing their competitive edge in an increasingly complex global banking environment. With this bold move, the question arises: Will HSBC's new East-West model become a blueprint for other global banks navigating geopolitical complexities? #HSBC #BankingIndustry #FinancialServices #GlobalBanking #LeadershipInFinance