HSBC Scales Back Western Investment Banking to Focus on Asia

Europe's largest bank announces a major restructuring, shutting down M&A and equity capital markets operations in the UK, Europe, and the Americas to prioritize growth in Asia and the Middle East.

HSBC will wind down its mergers and acquisitions (M&A) and equity capital markets (ECM) businesses in the UK, Europe, and the Americas as part of a strategic shift toward Asia and the Middle East.
The restructuring reflects CEO Georges Elhedery's focus on simplifying operations, cutting costs, and concentrating on regions with higher growth and profitability potential.
The bank will retain its debt capital markets, leveraged finance, and infrastructure financing operations globally, while scaling back less profitable segments.
The decision comes as HSBC continues to face challenges competing with dominant U.S. investment banks in Western markets, where its M&A and ECM units accounted for a small fraction of overall revenue.
The move is part of a broader geographic reorganization dividing HSBC into Eastern and Western units, further cementing its pivot to Asia, where it generates the majority of its profits.