A massive overhaul is rocking HSBC. Here’s what you need to know

A massive overhaul is rocking HSBC. Here’s what you need to know

HSBC kicked off a series of big changes as it continues its massive overhaul that will see some 35,000 job losses with a refocus on operations in Asia. The bank has been shaking up its leadership in key areas amid the shift.

26 February HSBC cuts staff and shakes up executives in London equities unit

22 February HSBC London bankers brace for job cuts amid Asia shift: ‘There is a lot of middle management in the UK’

22 February HSBC shakes up regional bosses amid push to Asia

23 February HSBC’s top investment banker bonuses fall by 11% as job cuts take hold

23 February HSBC plans $6bn in Asia investments as profits slump by 34%

23 February HSBC overhauls debt capital markets as Gabizon exits after 35 years

25 February HSBC shrinks bonuses for London investment bankers by up to 20%

4 February HSBC’s European investment bank chief Philippe Henry to step down after 32 years

28 January HSBC makes two key appointments in investment banking unit

27 October HSBC to speed up and go further on cost cuts as profits slip by 36%

22 October HSBC hires Citi veteran Keefe to lead investment bank in the Americas

And then there's China.

A massive overhaul is rocking HSBC. Here’s what you need to know

HSBC has been caught in a political quagmire as China cracks down on political dissent in Hong Kong, where the bank generates the bulk of its business.

19 February HSBC does not need to hand over documents to Huawei, London court rules

8 February HSBC under pressure from global politicians to unfreeze ex-Hong Kong lawmaker’s accounts

4 February Dump HSBC, Standard Chartered over Hong Kong, UK lawmakers tell BlackRock and Wimbledon

28 January Hong Kong backs HSBC after Noel Quinn’s grilling by British MPs

18 January HSBC boss Noel Quinn writes to ex-Hong Kong lawmaker to explain why his accounts were frozen

8 December UK vows to stand up for people of Hong Kong as HSBC under fire

Covid, bitcoin and climate change are also affecting the bank.

23 February HSBC plans 40% office space cut as Covid shifts bank to flexible working

19 January HSBC shuts 82 branches as Covid-19 crystalises demand for digital services

13 January HSBC threatens to close accounts for people who refuse to wear masks in branches

18 February HSBC, JPMorgan among banks dipping into crypto and blockchain — Here’s the list

11 January Investors with $2.4tn assets push HSBC to cut coal investments

To contact the author of this story with feedback or news, email Paul Clarke