HSBC fired many senior bankers in Q1 2025. One year later, costs are up 7%
sbutcher@efinancialcareers.com (Sarah Butcher)
HSBC, how's it going? Well. It's up, and its down.
We are now one year on from HSBC's surprise decision in the first quarter of 2025, to close its M&A and equity capital markets businesses outside of Asia and the Middle East. Senior bankers were let go as a result, with many departing after February 2025 when bonuses were due to be paid.
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The disappearance of large chunks of HSBC's corporate and investment bank might have been expected to reduce