A cadre of senior executives is set to relocate in coming months to Hong Kong from HSBC’s Canary Wharf headquarters, say people familiar with the plans, as Europe’s biggest bank pares its global ambitions.
Chief Executive Officer Noel Quinn will begin marketing what’s known internally as the “pivot to Asia” on Tuesday when he announces 2020 earnings. Moving the trio Nuno Matos, chief executive of wealth and personal banking; Greg Guyett, co-head of global banking and markets, and Barry O’Byrne, chief executive of global commercial banking would mean businesses responsible in 2019 for 95% of net revenue will be run out of Hong Kong.
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HSBC s top executives following the money prepare Asia moves
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HSBC’s top executives prepare move to Asia after announcement of 2020 earnings
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. Updated: 21 Feb 2021, 05:16 AM IST Bloomberg
The coming reset comes just 12 months after an overhaul that called for cutting 35,000 jobs, about 15% of the total, over three years. But Chairman Mark Tucker told the Asian Financial Forum conference in January that the pandemic has upended those plans
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HSBC Holdings Plc is considering the return of some global leaders to the bank’s original hometown, reinforcing Asia’s role as its center of gravity.
A cadre of senior executives is set to relocate in coming months to Hong Kong from HSBC’s Canary Wharf headquarters, say people familiar with the plans, as Europe’s biggest bank pares its global ambitions.