HSBC (HSBC) CEO Georges Elhedery has announced plans to overhaul the bank, which will involve the company splitting into four divisions and creating a new geographic set-up separating east from west. as he seeks to cut costs and navigate geopolitical tensions, Ortenca Aliaj, Kaye Wiggins, and William Sandlund of The Financial Times reports. The lender will turn its UK and Hong Kong businesses into standalone units, while the other two units will be “corporate and institutional banking” and “international wealth and premier banking.”
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