Noel Quinn, the interim chief executive of HSBC , says this time things are goin...
FILE PHOTO: A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia August 6, 2019. Picture taken August 6, 2019. REUTERS
“Internally, expectations had built up in the run up to the strategy update that Quinn will be confirmed as the group CEO,” said a person with knowledge of the call. Stevenson told employees that even if the markets didn’t have much conviction in the execution of the strategy, HSBC staff would have to rally behind management to see it through.The London-headquartered bank, which makes 90% of its profit in Asia, is shrinking its investment bank, cutting 35,000 jobs and revamping its U.S. and European businesses, to remove $4.5 billion in costs.
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