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HSBC’s ‘simplification’ is pretty complicated

Merging commercial and investment banking is a tale as old as time. But it doesn’t always go to plan

The bank’s new CEO is doing what all new CEOs do: restructure
The bank’s new CEO is doing what all new CEOs do: restructure Photo: Chan Long Hei/Getty Images

David Wighton is a columnist for Financial News

Here we go again. There is nothing new chief executives like more than a swift rearranging of the furniture. Former bankers find it particularly hard to resist. Just seven weeks after taking over at HSBC, Georges Elhedery has called in the movers. Let’s hope they can understand his instructions.  

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