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HSBC HOLDINGS Simplifying Organizational Structure into 4 Biz to Accelerate Strategic Execution
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HSBC HOLDINGS (00005.HK) is simplifying its organizational structure into 4 businesses to accelerate delivery against its strategic priorities, according to HSBC HOLDINGS' announcement. From 1 January 2025, HSBC HOLDINGS will operate through 4 businesses, naming Hong Kong, UK, Corporate and Institutional Banking and International Wealth and Premier Banking, with clear lines of responsibility. The changes will reduce the duplication of processes and decision making that are built into the current structure and will result in greater alignment and agility in serving its customers. The Group's functions will be realigned to support the 4 new businesses. Being the market leader in its home market of Hong Kong is one of HSBC HOLDINGS' clear strengths as a business and remains a top strategic priority. The new "Hong Kong Business" will comprise "Personal Banking" and "Commercial Banking" under the business oversight of David Liao and Surendra Rosha at the Group Operating Committee, for both HSBC as well as Hang Seng Bank. AAStocks Financial News |
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