Finance
HSBC’s New CEO Is Looking to Shake Up Europe’s Largest Lender
Analysts say Georges Elhedery will have to find a way to shave $2 billion in expenses in the coming years.
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With just two weeks under his belt as the new chief executive officer of HSBC Holdings Plc, Georges Elhedery has made it clear he’s looking to make his mark on the bank.
Since he took over, Elhedery has weighed kicking off what could amount to HSBC’s most significant restructuring in more than a decade. He’s also considered disposing of a couple of non-core businesses and he’s been pleading with staffers to keep costs in check.