Finance
HSBC Mulls Merging Commercial, Investment Bank to Cut Costs
- Deliberations come as Elhedery takes reins as chief executive
- Combined unit would be home to more than 90,000 HSBC employees
HSBC Holdings Plc is weighing combining its commercial and investment bank divisions as part of new Chief Executive Officer Georges Elhedery’s push to eliminate overlapping roles across the company and shed expenses.
The effort would bring together HSBC’s global banking and markets business, which caters to large, multinational corporations and houses the firm’s trading and investment banking divisions, with its commercial banking arm, according to people familiar with the matter.
