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HSBC HOLDINGS Purportedly Renames Biz Sections, Dropping 'Eastern' and 'Western' Mkt Labels
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HSBC HOLDINGS (00005.HK) divided its regional operations into "eastern markets" and "western markets" in October 2024, however, according to the Financial Times, the group has now renamed the eastern markets as "Asia and the Middle East" and the western markets as "Europe and Americas", since the original naming sparked concerns of a potential East-West split of the group. A spokesperson for HSBC HOLDINGS declined to comment on the report, only citing CEO Georges Elhedery's statement from last October that the group, with an aim to better serve its clients through its global network, is simplifying its regional governance structure by reducing it from five regions to two. AAStocks Financial News |
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