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HSBC plans major shake-up

HSBC plans major shake-up

BBC’s Jon Bithrey reports on the potential changes in store for HSBC as it readies it self for a shake-up and a slimming down.

May 12, 2011 10:20 by

Europe’s biggest bank, HSBC, is set to unveil plans for a major shake-up that could see it selling some of its businesses and shedding staff.

It is the first big move by new chief executive, Stuart Gulliver, who is facing pressure from shareholders to deal with rising costs.

The bank recently announced a fall in profits of 14% year on year.

Jon Bithrey reports.

Source: BBC

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