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HONG KONG/LONDON (Reuters) — HSBC merged some operations and split its geographic footprint into East and West in a sweeping restructuring under new CEO Georges Elhedery that also included the appointment of the bank’s first female finance chief.
Under the revamp, announced on Tuesday, HSBC will combine some of its commercial and investment banking businesses. It also installed a new leadership structure that will “unleash our full potential and drive success into the future,” Elhedery said in a memo to staff.