HSBC to save $1.8 billion over two years under new CEO
HSBC HSBA.L posted annual profit on Wednesday that beat estimates, helped by increased revenue in wealth and markets businesses, and set stiff cost-cut targets as its new CEO implements a revamp of the Asia-focused bank to boost returns.
HSBC sees $1.8 billion in revamp related costs as new CEO looks to boost returns
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 long-term costs and boost profits while navigating diverging interest rate policies and geopolitical turmoil.
HSBC targets $1.5 bn in annual cost savings after revamp
Banking giant HSBC said Wednesday that CEO Georges Elhedery's plan since October to simplify the company's structure and geographic setup will yield $1.5 billion in annual cost savings by the end of 2026.
HSBC Plans New Share Buyback, Cost Cuts
The London-based bank’s chief executive is concentrating on streamlining the lender’s businesses and reducing costs.
HSBC Sees $1.8 Billion Cost Over Two Years in Elhedery Revamp
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 ranks.
HSBC eyes $1.8 billion in cost cuts by 2026 as new CEO looks to boost returns
HSBC on Wednesday said it aims to save $1.8 billion in costs by the end of next year, as its new CEO revamps the bank to boost profit while navigating mixed interest rate policies and profound geopolitical changes.
HSBC unveils cost cuts in drive to create a 'simple, more agile, focused bank'
The London-headquartered bank plans to save $300 million this year and aims to reduce its cost base by $1.5 billion by the ...
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Banking giant HSBC said Wednesday that CEO Georges Elhedery's plan since October to simplify the company's structure and geographic setup will yield $1.5 billion in annual cost ...
Banking giant HSBC said Wednesday that CEO Georges Elhedery's plan since October to simplify the company's structure and geographic setup will yield $1.5 billion in annual cost savings by the end of ...
HSBC bonus pool flat in 2024 amid cost-cut drive; headcount falls 3%
HSBC's headcount fell 3% last year and its staff bonus pool hardly changed as a new CEO sharpened focus on costs and ...
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HSBC HOLDINGS Elhedery: No Target for Layoff No.; Reduced Headcount May be Lower than 8%
CEO Georges Elhedery said in a results conference call that there is no target number of layoffs set by the bank, and that ...
HSBC launches $2 billion share buyback as annual profit rises 6.5%
HSBC’s pre-tax profit nearly doubled to $2.3 billion, recovering from a $3 billion impairment charge in the same period last ...
HSBC Dials Back Climate Ambitions, Following U.S. Banks
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 annual profit jumps 6.5%, marginally misses estimates
Europe’s largest lender HSBC on Wednesday reported annual pre-tax profit of $32.31 billion, marginally missing analysts’ ...
HSBC hit by fresh Hong Kong row: Bank accused of 'shrugging its shoulders' in the face of Chinese oppression
Boss Georges Elhedery (pictured) appeared to play down concerns over the blocking of pension savings from UK nationals who ...