HSBC Reportedly Considers Commercial-Investment Bank Merger

Group 1: Merger Consideration - HSBC is considering a merger of its commercial and investment bank operations as part of new CEO Georges Elhedery's strategy to eliminate overlapping roles and reduce expenses [1][3] - The proposed merger could create a combined division with a workforce of 90,000, generating $40 billion in annual revenue, making it the bank's largest revenue driver [2] Group 2: Leadership Changes - Former CEO Noel Quinn opposed the merger idea, citing potential disruptions, but the change in leadership has led to a reconsideration of this strategy [3] - Georges Elhedery, the new CEO, has nearly 20 years of experience at HSBC and previously served as co-CEO of global banking and markets [4] Group 3: Cost-Cutting Measures - HSBC has been slowing hiring and asking investment bankers to cut expenses in anticipation of interest rate cuts, leaving some positions vacant and pausing hiring in certain departments [5]