HSBC to overhaul equities business
(UK) HSBC has announced it will integrate its equities business with its global markets business in a bid to develop new revenue streams.
The bank is currently undergoing a review of its cash equities business as part of a restructure of its investment banking business. The aim is to move away from a commission-based model in order to leverage HSBC’s balance sheet to create new business in corporate finance and investment banking.
The restructure was instigated by the dual appointments of Stuart Gulliver and John Studzinski as co-heads of corporate and investment banking in April.
Some job cuts have been mooted by the bank but the review could also lead to the creation of new senior management positions. Asia Pacific head of corporate and investment banking, Tony Rademeyer, is part of the global management team leading the review.
The restructure was instigated by the dual appointments of Stuart Gulliver and John Studzinski as co-heads of corporate and investment banking in April.
Some job cuts have been mooted by the bank but the review could also lead to the creation of new senior management positions. Asia Pacific head of corporate and investment banking, Tony Rademeyer, is part of the global management team leading the review.
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