HSBC cuts sound bold, but its caretaker manager must do more to make his mark

HSBC cuts sound bold, but its caretaker manager must do more to make his mark

HSBC needs to focus on cutting overheads in weaker European markets Ten thousand job cuts make it seem like HSBC’s caretaker boss is just the tough guy the sprawling megabank needs.

After all, Noel Quinn was promoted to the chief executive role after John Flint was hoiked for failing to implement change fast enough.

Trouble is, when you consider HSBC has 238,000 staff around the world, Quinn’s move seems slightly less bold. Most big banks have been quietly cutting their London and continental European operations at a far faster pace for years.The boss of one says its London HQ has cut […]

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