Analysts at Keefe, Bruyette & Woods (KBW) have noted that HSBC's recent business restructuring and removal of management layers could lead to potential cost savings and other benefits. However, without detailed figures and specifics, assessing the full impact of these changes remains challenging.
The bank has appointed a new Chief Financial Officer and reorganized its operations into four main sectors. This move coincides with increasing speculation about possible restructuring at HSBC, following the appointment of their new CEO, Georges Elhedery.
Analyst Edward Firth commented that while the restructuring costs might range from several hundred million to a few billion dollars, they are expected to be significantly lower than HSBC's previous "cost realization plan," which aimed for savings of up to $6.5 billion. Between 2020 and 2022, the bank managed to achieve overall savings of $5.6 billion under this plan.
