HSBC commenced a broad restructuring across various of its business lines, as recently appointed CEO George Elhedery attempts to cut costs, according to Bloomberg.
The article says HSBC, as part of the restructuring, will combine its global commercial and institutional banking operations, create a new international wealth and banking business and revamp regional operations across the globe.
Additionally, the Bloomberg story states, HSBC named its first-ever female chief financial officer, Pam Kaur, who joined the company in 2013 as audit head before moving into a role overseeing risk and compliance.
