Latest news with #HSBCHoldingsPlc
Economic Times
27-05-2025
- Business
- Economic Times
HSBC cuts dozens of analyst jobs in investment banking overhaul
Reuters A HSBC bank branch in London HSBC Holdings Plc has culled more than two dozen analysts in recent days as Europe's largest lender deepens a restructuring of its investment banking businesses, according to people familiar with the affected by the move include Steven Major, HSBC's Dubai-based global head of fixed income research, the people said, asking not to be identified discussing confidential information. Most of the cuts were in Europe, according to the part of the sweeping changes, the London-based bank is combining macro strategy across asset classes including foreign exchange and fixed income, one of the people said. Murat Ulgen will now act as interim head of macro strategy in addition to his existing role as global head of emerging markets research, the person said. Meanwhile, Eliot Camplisson and Raj Sinha will expand their roles to become co-heads of equity research globally, and Janet Henry will continue to lead the global economics team, according to the person. The latest revamp comes as Chief Executive Officer Georges Elhedery continues to streamline the lender to increase efficiency. Since taking the helm in September, he has combined HSBC's commercial and investment banking units, while making operations in the UK and Hong Kong standalone businesses. The CEO has also shuttered most of the bank's mergers and acquisition and equity underwriting operations in the US, Britain and continental Europe. 'Our global research, equities sales and trading businesses are core to corporate & institutional banking,' a spokesperson for HSBC said in an emailed statement. Major didn't respond to a request for comment on sweeping restructuring of the bank is expected to lead to $1.8 billion in charges over the next two years. Billions more will be spent redeploying resources from lower-returning units to areas where the bank believes it has a better chance of earning higher recently, HSBC reorganized its capital markets and corporate advisory units into a new business in a move aimed at grabbing a larger share of the booming private credit industry. Ed Sankey, the bank's global head of equity capital markets, is among those departing, Bloomberg News has banker Greg Guyett is also poised to leave within months, Bloomberg has reported. The firm is in the process of trimming some vice-chairman roles that reported to Guyett, the former head of the bank's global investment banking arm, according to people familiar with the matter. You Might Also Like: HSBC lays off bankers on bonus day, no payouts given Shares of HSBC have gained more than 10% this year in London. Still, as one of the world's largest trade financiers with a majority of revenue earned from Asia, HSBC is highly exposed to the global tariff war and growing tensions between Washington and Beijing.
Time of India
27-05-2025
- Business
- Time of India
HSBC cuts dozens of analyst jobs in investment banking overhaul
HSBC Holdings Plc has culled more than two dozen analysts in recent days as Europe's largest lender deepens a restructuring of its investment banking businesses, according to people familiar with the matter. Those affected by the move include Steven Major, HSBC's Dubai-based global head of fixed income research, the people said, asking not to be identified discussing confidential information. Most of the cuts were in Europe, according to the people. As part of the sweeping changes, the London-based bank is combining macro strategy across asset classes including foreign exchange and fixed income, one of the people said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trekking pants for mountain sports and adventure travel Trek Kit India Shop Now Undo Murat Ulgen will now act as interim head of macro strategy in addition to his existing role as global head of emerging markets research, the person said. Meanwhile, Eliot Camplisson and Raj Sinha will expand their roles to become co-heads of equity research globally, and Janet Henry will continue to lead the global economics team, according to the person. The latest revamp comes as Chief Executive Officer Georges Elhedery continues to streamline the lender to increase efficiency. Since taking the helm in September, he has combined HSBC's commercial and investment banking units, while making operations in the UK and Hong Kong standalone businesses. The CEO has also shuttered most of the bank's mergers and acquisition and equity underwriting operations in the US, Britain and continental Europe. Live Events You Might Also Like: India among HSBC's top 4 priority growth markets, says CEO Georges Elhedery 'Our global research, equities sales and trading businesses are core to corporate & institutional banking,' a spokesperson for HSBC said in an emailed statement. Major didn't respond to a request for comment on LinkedIn. Elhedery's sweeping restructuring of the bank is expected to lead to $1.8 billion in charges over the next two years. Billions more will be spent redeploying resources from lower-returning units to areas where the bank believes it has a better chance of earning higher revenues. Most recently, HSBC reorganized its capital markets and corporate advisory units into a new business in a move aimed at grabbing a larger share of the booming private credit industry. Ed Sankey, the bank's global head of equity capital markets, is among those departing, Bloomberg News has reported. Senior banker Greg Guyett is also poised to leave within months, Bloomberg has reported. The firm is in the process of trimming some vice-chairman roles that reported to Guyett, the former head of the bank's global investment banking arm, according to people familiar with the matter. You Might Also Like: HSBC lays off bankers on bonus day, no payouts given Shares of HSBC have gained more than 10% this year in London. Still, as one of the world's largest trade financiers with a majority of revenue earned from Asia, HSBC is highly exposed to the global tariff war and growing tensions between Washington and Beijing.
Mint
27-05-2025
- Business
- Mint
HSBC Cuts Dozens of Analyst Jobs in Investment Banking Overhaul
(Bloomberg) -- HSBC Holdings Plc has culled more than two dozen analysts in recent days as Europe's largest lender deepens a restructuring of its investment banking businesses, according to people familiar with the matter. Those affected by the move include Steven Major, HSBC's Dubai-based global head of fixed income research, the people said, asking not to be identified discussing confidential information. Most of the cuts were in Europe, according to the people. As part of the sweeping changes, the London-based bank is combining macro strategy across asset classes including foreign exchange and fixed income, one of the people said. Murat Ulgen will now act as interim head of macro strategy in addition to his existing role as global head of emerging markets research, the person said. Meanwhile, Eliot Camplisson and Raj Sinha will expand their roles to become co-heads of equity research globally, and Janet Henry will continue to lead the global economics team, according to the person. The latest revamp comes as Chief Executive Officer Georges Elhedery continues to streamline the lender to increase efficiency. Since taking the helm in September, he has combined HSBC's commercial and investment banking units, while making operations in the UK and Hong Kong standalone businesses. The CEO has also shuttered most of the bank's mergers and acquisition and equity underwriting operations in the US, Britain and continental Europe. 'Our global research, equities sales and trading businesses are core to corporate & institutional banking,' a spokesperson for HSBC said in an emailed statement. Major didn't respond to a request for comment on LinkedIn. Elhedery's sweeping restructuring of the bank is expected to lead to $1.8 billion in charges over the next two years. Billions more will be spent redeploying resources from lower-returning units to areas where the bank believes it has a better chance of earning higher revenues. Most recently, HSBC reorganized its capital markets and corporate advisory units into a new business in a move aimed at grabbing a larger share of the booming private credit industry. Ed Sankey, the bank's global head of equity capital markets, is among those departing, Bloomberg News has reported. Senior banker Greg Guyett is also poised to leave within months, Bloomberg has reported. The firm is in the process of trimming some vice-chairman roles that reported to Guyett, the former head of the bank's global investment banking arm, according to people familiar with the matter. Shares of HSBC have gained more than 10% this year in London. Still, as one of the world's largest trade financiers with a majority of revenue earned from Asia, HSBC is highly exposed to the global tariff war and growing tensions between Washington and Beijing. More stories like this are available on
Bloomberg
20-05-2025
- Business
- Bloomberg
Lloyds Sets Up Team of Bankers to Focus on CO2, Nature Credits
Lloyds Banking Group Plc has set up a desk to help clients buy and finance carbon offsets, as it moves into a market that's seen a retreat by peers including HSBC Holdings Plc. London-based Lloyds named Emily Martin its head of voluntary carbon and nature markets earlier this year, according to her LinkedIn page, which was confirmed by a spokesperson at the bank. Martin will help corporate and institutional clients in the voluntary carbon and nature markets, her LinkedIn profile shows.
Bloomberg
15-05-2025
- Business
- Bloomberg
Abu Dhabi Construction Firm Is Said to Tap FAB, HSBC for Listing
Arabian Construction Co. has picked First Abu Dhabi Bank and HSBC Holdings Plc to advise on a planned initial public offering in the United Arab Emirates, adding to the rush of firms seeking to cash in on the country's booming property market. The Abu Dhabi-based company has hired the banks to work on a listing that could happen as soon as the second half of the year, according to people familiar with the matter. ACC, as the firm is known, is aiming to raise several hundred millions of dollars, one of the people said, declining to be identified while discussing private information.
