Michael Roberts, head of HSBC's newly formed Global Wholesale Banking division, revealed plans for a rapid completion of the bank's ongoing restructuring. The initiative may lead to an announcement of the first round of layoffs in the coming weeks.
Roberts, who serves as CEO of Corporate and Institutional Banking and head of Western markets, stated that the layoffs would primarily impact senior-level positions. This move aligns with the restructuring strategy announced by CEO Georges Elhedery, which aims to be executed thoughtfully.
Roberts emphasized the urgency of this process, acknowledging the potential distraction it creates. He reaffirmed the bank's commitment to initiating the first round of layoffs in the next few weeks, ensuring the process progresses swiftly.
