HSBC eyes $1.8 billion in cost cuts by 2026

HSBC axes 40 dealmakers in Hong Kong as part of revamp to cut costs, source says
HSBC , has laid off around 40 investment bankers in Hong Kong, according to a person with direct knowledge of the matter, as part of a global restructuring exercise at the Asia-focused lender to cut costs.
HSBC to redeploy US$1.5 billion to Hong Kong, Asia from 'low-return' markets as CEO cuts costs
HSBC Holdings said it would invest more resources in Hong Kong's wealth-management products and services in the coming years, as the city's biggest commercial bank restructures to cut costs and grow in its largest market in terms of revenue.
HSBC to shed more jobs to cut costs
Banking giant HSBC on Wednesday revealed that Hong Kong employees whose roles are related to its mergers and acquisitions (M&A) as well as equity
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 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 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
HSBC to redeploy US$1.5 bln to Hong Kong, Asia from ‘low-return’ markets as CEO cuts costs
Hong Kong’s biggest bank announced US$2 billion in a share buy-back programme and 87 US cents per share in dividend.
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’s Hang Seng Bank Posts Surge in HK Property Impairments
Hang Seng Bank Ltd., a Hong Kong lender controlled by HSBC Holdings Plc, recorded a surge in credit impairment on commercial ...
HSBC expects restructuring to cost $1.8B over two years
HSBC (NYSE:HSBC), the Hong Kong- and U.K.-focused bank, expects to pay $1.8B over two years in severance and other up-front ...
HSBC Cuts 40 Dealmakers in Hong Kong Ahead of Restructuring, a Source Says
HONG KONG/Sydney (Reuters) - HSBC has laid off around 40 investment bankers in Hong Kong as part of the bank's global ...
HSBC plans new round of investment bank job cuts next week, starting in Asia, say sources
HSBC Holdings Plc is kicking off a fresh round of job cuts at its investment bank as new Chief Executive Officer Georges ...
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 initiated sweeping restructuring of the Asia-focused lender, showed its 2024 ...
Overbought HSBC Stock Has Priciest Bullish Bets in Four Months
HSBC Holdings Plc has become the second-biggest gainer among banking stocks traded in Hong Kong after rising 15% this year.
DBS, HSBC have best-performing mobile banking apps in Asia, according to a new report
Two digital lenders, Hong Kong's Mox Bank and Trust Bank Singapore, tied for fourth in Asia Hong Kong and Singapore have the ...
HSBC 2024 Profit Beats Estimates; Announces $2 Billion Share Buyback
The London-based bank reported profit before tax for 2024 of $32.3 billion. That compared with $30.3 billion a year earlier ...