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China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
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Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
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Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
HSBC Restructures Banking Operations Under New CEO Georges Elhedery
On Tuesday, HSBC Holdings unveiled a major overhaul of its banking operations, merging its commercial and investment banking sectors under the leadership of new CEO Georges Elhedery. This strategic move aims to simplify the Asia-focused bank's operations and cut costs, resulting in a reduction of senior management positions.
To better align its services, HSBC will reorganize into four primary business units: UK, Hong Kong, corporate and institutional banking, and wealth banking. The newly formed corporate and institutional banking unit will integrate commercial banking with global banking and markets, including Western wholesale banking operations in Europe and the Americas.
In a memo to staff, Elhedery emphasized that this restructuring would "unleash our full potential and drive success into the future." This initiative comes amid increasing pressure on banking executives to manage rising costs effectively.
Pam Kaur has been appointed as HSBC’s first female Chief Financial Officer (CFO), bringing extensive experience from her current role as Chief Risk and Compliance Officer. Kaur joined the bank in April 2013 and previously served as the group head of internal audit.
Other notable management changes include Jon Bingham, who will transition from interim Group CFO back to Global Financial Controller, and Greg Guyett, who will take on a new position as Chair of the Strategic Clients Group. Meanwhile, Colin Bell, CEO of HSBC Bank and Europe, has chosen to step down to explore new opportunities.
With approximately 214,000 employees worldwide, HSBC continues to streamline its operations by eliminating duplicate roles and reducing its presence in Western markets, focusing on strategic growth in Asia.
