Hong Kong/Sydney (Reuters) – HSBC has dismissed around 40 investment bankers in Hong Kong, according to a close source, as part of a global restructuring of the bank aimed at reducing its costs.
The job cuts in its regional center in Hong Kong began on Monday, said this source as well as another source close to the file, and intervene while the Bank based in London must publish its annual results on Wednesday.
At least four “managing directors” have been dismissed, three of them being based in Hong Kong and one in Singapore, said one of the sources, adding that the most affected sectors are those of consumption, resources and resources and energy, as well as mergers and acquisitions.
HSBC refused to comment on the last series of job cuts in Hong Kong first reported by IFR on Monday.
The deletions of jobs in the investment bank also occur after HSBC announced last month its intention to reduce its activities of mergers and acquisitions and certain activities related to actions in Europe and in the Americas, in order to improve its profitability .
(Report from Selena Li to Hong Kong and Scott Murdoch in Sydney; Bertrand de Meyer, edited by Blandine Hénault)
Copyright © 2025 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
