HSBC CEO Targets Asia, Middle East Growth After Revamp (3)

HSBC Holdings Plc expects to double down on its investment-banking operations in Asia and the Middle East after exiting key businesses in Europe and the US, Chief Executive Officer Georges Elhedery said.

The bank will focus on debt and other financing activities globally as well as mergers and acquisitions and equity capital markets in Asia and the Middle East, Elhedery said in a Bloomberg TV interview on Tuesday at an HSBC conference in Hong Kong. The restructuring will save $1.5 billion in efficiency costs and enable the bank to invest in areas where it has more competitive edge to generate ...