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City

Wise boss to take ‘overdue’ sabbatical to look after newborn son

The boss of payments firm Wise has announced plans to take a three-month sabbatical to spend time with family and look after his newborn son. Co-founder and chief executive Kristo Kaarmann said he is “overdue” the time off after starting the ...

10 May 2023 at 13:14

HSBC profits from higher interest rates but says mortgages still ‘affordable’

City

HSBC sees profits jump on the back of higher interest rates

Banking giant HSBC has seen its quarterly profits jump as it raked in more income from rising interest rates, but said that mortgages remain affordable for most of its customers. The lender reported adjusted pre-tax profits for the three ...

25 Oct 2022 at 12:22

City

HSBC reveals senior management overhaul as new chief takes reins

HSBC has revealed a shake-up of its senior management, days before its new boss takes over at the banking giant. Georges Elhedery, the group chief executive designate, has led the overhaul of a number of senior roles to help the firm ...

29 Aug 2024 at 09:20

City

HSBC ‘planning cuts among top bankers in cost-saving plan’

Banking giant HSBC is reportedly planning a round of cuts among senior managers under plans to save up to 300 million US dollars (£229 million). New boss Georges Elhedery is said to be considering a merger of its commercial banking ...

10 Oct 2024 at 14:13

City

HSBC announces overhaul with bank split into East and West

HSBC has unveiled an overhaul of its global structure as new boss Georges Elhedery seeks to reduce costs and focus on the bank’s strongest divisions. The bank said it is simplifying operations by splitting into four key units, and ...

22 Oct 2024 at 12:21

City

HSBC to start cutting top banker roles as it reveals jump in profit

HSBC has said it will cut senior banker roles over the coming months in a bid to reduce costs after revealing a nearly 10% jump in profits. Chief executive Georges Elhedery said the banking giant is “moving at pace” with a major ...

29 Oct 2024 at 14:05

City

HSBC boss bows out with forecast-beating results and more returns for investors

HSBC’s outgoing boss, Noel Quinn, has bowed out with a better-than-expected set of results and returned another 3 billion US dollars (£2.3 billion) to shareholders in his final set of results before handing over the reins. The ...

31 Jul 2024 at 08:34

City

HSBC to wind down parts of investment banking units in UK, Europe and US

HSBC is to shut down parts of its investment banking operations in the UK, Europe and the Americas as bosses continue their overhaul of the banking giant. Georges Elhedery has overseen a significant shake-up of the ...

28 Jan 2025 at 11:25

City

HSBC reveals plans to cut jobs amid bid to slash costs by £1.2bn

Banking giant HSBC has revealed it is kicking off a round of jobs cuts in the UK and worldwide as it seeks to slash costs by 1.5 billion US dollars (£1.2 billion) by the end of 2026. The group said it will look to ...

19 Feb 2025 at 10:28

City

HSBC launches search for new UK boss in latest reshuffle

HSBC has launched a search for a new boss for its UK business after announcing that current chief executive Ian Stuart is taking on a newly-created role, in the latest reshuffle for the changing bank. Mr Stuart’s ...

04 Mar 2025 at 14:31

City

HSBC profits slide 26% as tariff uncertainty puts brakes on investment

HSBC has cautioned over the impact of Donald Trump’s tariffs with policy uncertainty prompting businesses to “pause” investment plans, as the banking giant revealed sliding profits. The group also revealed that ...

30 Jul 2025 at 08:39

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