HSBC to cut UK wealth roles, financial advisers down ~70%: FT
William Barton
- HSBC (HSBC) is planning to cut roles across its UK wealth business, according to a media report on Wednesday. The bank is consulting with staff on reductions in roles affecting managers, specialists, and financial advisers, the Financial Times reported.
- Reduction in the ranks of financial advisers will be closer to 70%, and HSBC (HSBC) is in a consultation period regarding the proposed changes.
- Impacted staff are expected to leave the bank at the end of the month, the report said.
- “HSBC UK is a long-established, leading UK wealth manager and premium banking provider,” the bank told FT.
- “We’re continuing to evolve to deliver more digitally enabled products and journeys to support our best-in-class wealth service and meet the changing needs of our customers”.
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