GlobalData
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HSBC Holdings has announced a reorganisation of its capital markets and corporate advisory divisions, establishing a new entity aimed at enhancing its presence in the expanding private credit sector.
The newly formed capital markets and advisory group will consolidate HSBC's global financing and investment banking operations under a unified management framework, reported Bloomberg.
HSBC's restructuring will see its financing solutions, including debt capital markets and private credit operations, integrated with its corporate finance and strategic advisory services.
Adam Bagshaw has been appointed as the head of the new capital markets and advisory group, with a focus on expanding HSBC's private credit offerings and reinforcing its position in Asia and the Middle East.
HSBC corporate and institutional banking chief executive Michael Roberts was quoted by the publication as stating: “This is a model for the future, where we can best serve our clients and capitalise on the growth opportunities ahead.”
This reorganisation follows a comprehensive restructuring initiated by CEO Georges Elhedery, which included the closure of certain operations in the US, UK, and Europe, aiming to achieve cost savings of around $1.5bn.
Earlier this month, HSBC announced that its group chairman Mark Tucker plans to retire before the end of 2025. He joined the board in 2017 and has held the chairman position since October of that year.
Last month, HSBC opened a new wealth centre at The Star Vista to provide personalised financial services for affluent clients in western Singapore.
"HSBC launches new capital markets and advisory group" was originally created and published by Private Banker International, a GlobalData owned brand.
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