HSBC Plans New Round of Investment Bank Job Cuts Next Week (1)

HSBC Holdings Plc is kicking off a fresh round of job cuts at its investment bank as new Chief Executive Officer Georges Elhedery continues his overhaul of Europe’s biggest lender, according to people familiar with the matter.

The latest phase of cuts will start in Asia, but will ultimately affect employees globally, said the people, who asked not to be identified discussing private matters. It’s not clear how many people will be affected by the moves.

Some cuts are already underway in the firm’s markets division but wider layoffs across the investment bank will begin as early as Monday, the ...