HSBC's restructuring plan aims to simplify operations and empower frontline staff by reducing decision-making layers, leading to the elimination of senior banker positions.
The Chief Executive emphasized that the goal is to create a leaner organization, allowing for quicker decisions and a more direct governance structure.
By consolidating geographical units and restructuring its operations, HSBC anticipates a more agile and responsive organization, better suited to contemporary banking challenges.
Elhedery stated, 'There will inevitably be some de-duplication of frontline governance and therefore inevitably be the reduction of some senior roles in the organization.'
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