HSBC CFO says to expect ‘material action’ against struggling business units
Ewen Stevenson, Group CFO at HSBC.
Chris J. Ratcliffe | Bloomberg | Getty ImagesHSBC, 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…