This article is from SRN News
LONDON (Reuters) – HSBC is preparing to wind down its M&A and equity capital markets businesses in Europe, the UK and the Americas as part of a major shake-up of its investment banking operations, a memo showed on Tuesday.
“…our intention is to move to a more competitive, scalable, financing-led model,” Michael Roberts, CEO HSBC Bank said in the memo.
The bank said it would retain “more focused M&A and Equity Capital Markets capabilities in Asia and the Middle East”.
(Reporting by Sinead Cruise; Writing by Tommy Reggiori Wilkes)
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