HSBC’s Big Announcement Fails To Impress; Big Challenges Ahead, 3 Way Spinoff Coming Says The Edge

HSBC’s Big Announcement Fails To Impress; Big Challenges Ahead, 3 Way Spinoff Coming Says The Edge “No one on the HSBC board has restructuring experience: The Edge” By Michael Ide, Senior Writer, ValueWalk: HSBC Holdings plc (ADR) (NYSE:HSBC) (LON:HSBA) is down 1% today to 613p after CEO Stuart Gulliver announced major changes including shedding up to 50,000 jobs, shutting down operations in multiple countries, and reducing risk-weighted assets by 25%. While the changes were welcome, analysts mostly expected them and in some cases had expected HSBC to go further. If HSBC doesn’t move to Hong Kong as many hope, or if Gulliver stumbles on execution,...