HSBC CFO says to expect ‘material action’ against struggling business units

HSBC CFO says to expect ‘material action’ against struggling business units

Ewen Stevenson, Group CFO at HSBC.
Chris J. Ratcliffe | Bloomberg | Getty Images

HSBC, Europe’s largest bank, plans to restructure its loss-making businesses after the lender reported an 18% on-year drop in pre-tax profit for the third quarter, group CFO Ewen Stevenson said.
The bank is looking at ways to reshape its non-ring-fenced bank in the United Kingdom and its U.S. business, which, together…

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