HSBC Holdings Plc, the UK-based global banking giant, has cut more than two dozen analyst positions as part of a broad restructuring of its investment banking division. This reorganization aims to streamline operations, increase efficiency, and focus resources on higher-return business areas.
HSBC Holdings Plc, one of Europe’s largest lenders headquartered in London, has recently eliminated over two dozen analyst roles amid a significant restructuring of its investment banking business. The changes primarily impacted employees in Europe and are part of CEO Georges Elhedery’s ongoing strategy to streamline the bank’s operations and improve efficiency.
HSBC, known globally for its commercial and investment banking services and strong presence in Asia, is consolidating macro strategy functions across asset classes such as foreign exchange and fixed income. Murat Ulgen will serve as interim head of macro strategy while retaining his role as global head of emerging markets research. Additionally, Eliot Camplisson and Raj Sinha have been appointed co-heads of global equity research, with Janet Henry continuing to lead the global economics team.
Since Elhedery took charge in September 2024, HSBC has merged its commercial and investment banking units and reorganized its UK and Hong Kong operations into standalone businesses. The bank has also exited most mergers and acquisitions and equity underwriting operations in the US, UK, and continental Europe.
The restructuring is expected to result in $1.8 billion in charges over the next two years. Further investments will focus on reallocating resources from lower-return units to areas with greater revenue potential, including the growing private credit industry. HSBC recently reorganized its capital markets and corporate advisory divisions to expand its presence in this sector. Several senior executives, including Ed Sankey and Greg Guyett, are reported to be departing as part of these changes.
Despite the overhaul, HSBC shares have risen over 10% in 2025 in the London market. The bank remains a key player in global trade finance, especially in Asia, but faces exposure to geopolitical tensions and tariff conflicts between the US and China.
