HSBC mulls relocation of London-based senior executives to Asia

The bank is considering moving the co-heads of its investment bank to Singapore or Hong Kong.

HSBC is considering relocating a handful of its senior executives from London to either Singapore or Hong Kong, reports Bloomberg.

The bank is reportedly mulling moving the co-heads of investment bank, Greg Guyett and Georges Elhedery, to Asia, according to people familiar with the matter, declining to be identified as details are private.

Other roles are also being considered for relocations, placing more top decision-makers in the region where the bank makes the bulk of its money, the people added.

HSBC announced yet another restructuring plans in February 2020, partially held back by the COVID-19 pandemic. The bank is expected to provide updates to its plans alongside its full-year results, to be released on 23 February.

This week, the lender announced the opening a new office in Guangdong as part of its push into the Greater Bay Area. HSBC also recently announced it would expand into private banking into Thailand.

Here’s more from Bloomberg.

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