Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
HSBC HOLDINGS' Reorganization Deployment Expected to Save $11.7B Annually to Expand Wealth Mgmt Biz
Recommend 25 Positive 36 Negative 20 |
||||
|
||||
|
In an interview with Hong Kong media, Georges Elhedery, CEO of HSBC HOLDINGS (00005.HK), said that the decision on how to proceed with the restructuring will be finalized in 1H25, and will be implemented in the next 12 to 18 months. The Group's target is to start reflecting the results by the end of 2026, with an annual saving of US$1.5 billion (about $11.7 billion) in basic operating costs in the future. Wealth management will be the Group's focus in the future, while more resources will be allocated to regions with decent performance. The focus is no longer on improving efficiency, but on expanding market share in various markets, with priority given to growth markets such as mainland China and Hong Kong. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
