HSBC sees $1.8 billion in revamp related costs

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 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 costs to transform the company into a "simple, more agile, focused bank" built on its core strengths,
HSBC unveils share buyback, cost cut targets as new CEO looks to boost returns
HSBC posted an annual profit on Wednesday (Feb 19) 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-focussed bank to boost returns.
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 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 to shed more jobs as banking giant slashes £1.2bn in costs
HSBC is set to shed even more jobs as part of sweeping cost-cutting plans, as it undergoes a transformation guided by new ...
HSBC Continental Europe: 2024 Annual and Second Half Results
On 18 February 2025, HSBC Continental Europe’s Board of Directors reviewed the second half year results and approved the ...
HSBC sees mid-teens RoTE 2025-2027
We are now targeting a mid-teens return on average tangible equity in each of the three years from 2025 to 2027 excluding ...
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HSBC investors back CEO’s investment banking retrenchment
Investors in HSBC are backing management attempts to shutter parts of its investment bank, even as U.S. President Donald Trump’s deregulatory agenda fuels hopes for a boom in capital markets activity.