HSBC Announces Major Overhaul, Restructures Operations, And Appoints First Female CEO

HSBC on Tuesday announced a key overhaul, unveiling a new geographic setup by consolidating its operations into four business units. The bank's restructuring divides its operations into Eastern and Western markets and creates four new divisions. The bank says this will streamline operations and improve efficiency. Pam Kaur will become HSBC's first female CFO, effective January 1st. HSBC’s shares remained flat on Tuesday but have risen over 6% year-to-date. Analysts note the full extent of the restructuring’s impact remains uncertain but could lead to significant cost reductions.