Daily Management Review

HSBC reorganizes investment banking division


According to Bloomberg, which cites sources, British financial giant HSBC Holdings Plc is restructuring its investment banking segment in part.

Can Pac Swire
Can Pac Swire
The sources state that this division's management has chosen to combine many industry teams of analysts. They anticipate being able to work more productively as a result.

Citigroup Inc. has recently taken similar actions. Specifically, the investment bank formed a broad industrial group with a concentration on the healthcare, consumer, and retail sectors, and combined the technology and communications sectors into one. Additionally, Citigroup established a team dedicated to mining, chemicals, and energy.

In response to inquiries from the agency, an HSBC representative stated, "Our top priority is providing excellent customer service, and we need to make sure the right people are in the right places to do this."

source: bloomberg.com