US EditionHSBC to exit M&A and capital markets businesses in UK, Europe and the U.S.
- Hsbc is shutting down its mergers and acquisitions advisory and equity capital markets units in the U.K., Europe, and the Americas as part of a restructuring plan led by CEO Georges Elhedery.
- The bank will retain its debt capital markets and leveraged finance businesses in these regions, according to an internal memo.
- This decision is part of Elhedery's strategy to divide Hsbc into eastern and western units to streamline operations.
- The number of job cuts from this announcement is unclear, along with potential savings and reassignment of bankers to other sectors.
57 Articles
57 Articles
HSBC gives up on Wall Street, where Americans still rule
The NewsHSBC is axing most of its investment-banking businesses, joining a long line of lenders who’ve tried and failed to crack Wall Street.The bank’s new CEO, who took over in September, is shutting down IPO and M&A operations in Europe, the US, and the UK, acknowledging it can’t compete with American firms on their turf, or on its own. HSBC is Europe’s biggest lender but has deep roots in Asia, where it will continue to underwrite deals.Liz’s…
HSBC cuts investment banks in UK and Europe to focus on Asia
HSBC Holdings Plc, has announced plans to scale down its investment banking operations across Europe, the UK, and the Americas.Europe's largest banking group wants to concentrate its resources on Eastern markets, where it generates most of its revenues.The bank will withdraw from providing equity capital markets and advisory services outside its primary operations in Asia and the Middle East, according to a memo released on Tuesday.The withdrawa…
What's Going On With HSBC Holdings Stock Today? - HSBC Holdings (NYSE:HSBC)
HSBC Holdings (NYSE:HSBC) is reportedly making significant changes to its investment banking operations as part of a restructuring plan led by CEO Georges Elhedery. The bank will shut down key parts of its investment banking business in the U.K., Europe, and the Americas, including its mergers and acquisitions advisory and equity capital markets units outside Asia and the Middle East, Financial Times reports, citing an internal memo. However, HS…
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