HSBC Reshapes Investment Banking to Look More Like Rivals (1)

HSBC Holdings Plc is revamping parts of its investment bank in a move that will make it look more like rivals such as Citigroup Inc.

Executives in HSBC’s global banking business will winnow its existing sector teams into five larger groups, according to a memo to staff seen by Bloomberg. The move will allow bankers to work more efficiently and boost its focus on sectors involving innovation and sustainability, the memo shows.

“The simplified structure means teams can operate with more agility and flexibility and positions us for growth,” Adam Bagshaw and Matthew Ginsburg, co-heads of global banking, said ...