Finance
HSBC Cuts Equities Team in Germany as CEO Elhedery Continues Revamp
- Several Dusseldorf-based equities sales and trading jobs cut
- Bank has already cut dozens of analyst roles in the CIB
HSBC Holdings Plc is planning to let go of several staff in its Germany-based equities team as it continues to pare the investment banking division outside Asia and the Middle East.
The London-headquartered lender is preparing to cut equities sales and trading jobs in the Dusseldorf office, according to people familiar with the matter. The move is part of Chief Executive Officer Georges Elhedery’s effort to revamp the investment bank, the people said, asking not to be identified discussing private information.