HSBC will divide its operations into eastern and western markets as part of a significant shake-up under its new chief executive, Georges Elhedery. This step will help the bank cut costs and navigate rising geopolitical tensions between China and the West as detailed in a report by The Guardian.

HSBC splits operations into east and west divisions in a significant overhaul

The financial services sector is currently experiencing a wave of enthusiasm surrounding artificial intelligence (AI), but not all industry leaders are convinced of its claimed successes.

HSBC executive highlights overstated AI success narratives in finance sector

HSBC gained $1.5bn boost (₹1226.16 Crore) from the purchase of the UK business of collapsed Silicon Valley Bank (SVB UK), the London-headquartered banking giant, Europe's biggest, said on Tuesday.

HSBC strikes over a billion dollars in profit from Silicon Valley Bank's collapse

HSBC made a surprise move and named Georges Elhedery as its new chief financial officer (CFO) on Tuesday. The former head of the investment bank is now in the pole position to eventually succeed Noel Quinn as CEO.

HSBC appoints former investment bank head Georges Elhedery as CFO, potential CEO-in-waiting

US Secretary of State Mike Pompeo on Tuesday criticised British bank HSBC for supporting China's move to end Hong Kong's autonomy, saying such "corporate kowtows" got little in return from Beijing.

Mike Pompeo criticises HSBC for 'corporate kowtow' to Beijing

HSBC Bank to cut 15% of total global workforce. Bank operates in 64 countries. There would be “meaningful” job cuts in the UK, mainly affecting its head office operations and global banks and markets business.

HSBC bank plans massive job cut

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after its chief executive stepped down and announced the axing 4,000 posts citing a weak global outlook.

HSBC planning to cut 10,000 more jobs: Report

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