HSBC said to cut 100 senior jobs in investment banking
HSBC has reportedly begun cutting around 100 senior jobs this week in its investment banking division worldwide.
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According to sources cited by Reuters, the cuts are taking place at managing director and director level in the Global Banking and Markets division.
A spokeswoman for the bank told Reuters: “We review on an annual basis performances across Global Banking & Markets and make appropriate changes to strengthen and grow the business.”
Earlier this week, chief executive Stuart Gulliver reiterated than around 1,000 jobs at the GBM division could be moved to Paris as a result of the UK’s decision to leave the European Union.
At 1548 GMT, HSBC shares were down 0.3% to 677.25p.