We’re simplifying to accelerate our strategy
We’ve announced that we’re simplifying our Group organisational structure into four businesses to accelerate delivery against our strategic priorities.
The changes are designed to make it easier for our colleagues to serve our customers and drive the future success of the Group.
Our strategic priorities remain unchanged, but the new structure will result in a simpler, more dynamic and agile organisation as we focus on executing against them, said Group Chief Executive Georges Elhedery.
From 1 January 2025, we will operate through four businesses with clear lines of responsibility:
- Hong Kong
- UK
- Corporate and Institutional Banking
- International Wealth and Premier Banking
The changes will reduce the duplication of processes and decision making that are built into the current structure and will result in greater alignment and agility in serving our customers. The Group’s functions will be realigned to support the four new businesses.
‘Exciting opportunities’
Georges said: “I am excited about the opportunities ahead of us and firmly believe that this structure sets us up to deliver the next phase of growth.
“Our home markets of the UK and Hong Kong, together with our corporate and institutional banking, as well as our wealth and Premier banking businesses, are the core strengths of HSBC.
“By making these changes, we can better focus on increasing leadership and market share in those businesses that have clear competitive advantage and the greatest opportunities to grow.
“This is how we will fast forward our plans to execute our strategy, unleash the full potential of the bank and ensure our talented colleagues can thrive, and deliver best-in-class products and service excellence for our customers.
“When our customers succeed, so do we.”