HSBC Holdings Plc has asked hundreds of managers to reapply for jobs in the firm’s newly formed corporate and institutional banking division as Chief Executive Officer Georges Elhedery continues his hunt for ways to make the bank run more efficiently.
Interviews are already underway, according to people familiar with the matter, essentially pitting senior staff who came from the commercial banking division against those from the global banking and markets unit to compete for the jobs available in the combined CIB division.
Bloomberg’s Harry Wilson reports on what this means for the hundreds of senior staff reapplying for roles in the new division.
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