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9 Reasons HSBC is an Excellent Sales Prospect in 2020

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HSBC will cut 35,000 jobs and $100 Billion in assets in the next 3 years as it scales back operations in the U.S. and Europe.

They have developed a detailed restructuring plan to address the low-return portfolios of Europe and the U.S. and to reshape Global Banking and Markets.

There are plans to create a combined Wealth and Personal Banking business.

The Global Banking & Markets and Commercial Banking division will incur the most restructuring.

They have begun an ambitious simplification and cost-reduction program, while increasing IT investment.

Total forecasted IT Budget for 2020 is $3.9 Billion

They have reorganized their management structure with 9 new senior executives joining in 2019 & 2020

*NEW* Senior Executive Leaders

This is a robust plan built around things they can control
- delayer and de-matrix the organization
- more agility and simplicity in the organization

The rundown program is likely to take 3 years to execute, with a dedicated team now set up to execute it.
- They have established a dedicated transformation team to focus on executing the restructuring
- There is a separate team focused on building future growth strategies

There is a 3 to 4 year plan to create a single data warehouse and heavily use the cloud which should lead to a dramatic improvement in the productivity of the finance department.

And they foresee similar efficiency programs across much of the back office and middle office.

John Hinshaw is the new Group COO (Feb 2020) who's got a deep background in technology and has led similar restructurings at HPE where he was EVP and managed technology and operations functions.

Contact databahn to see a more a more detailed company profile report on HSBC. info@databahn.com

Publié dans : Business
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9 Reasons HSBC is an Excellent Sales Prospect in 2020

  1. 1. February 18, 2020 9 Reasons HSBC is an Excellent Prospect
  2. 2. If you read the latest HSBC headlines, they might not look like a great prospect right now… “HSBC will cut 35,000 jobs and $100 Billion in assets in the next 3 years as it scales back operations in the U.S. and Europe.”
  3. 3. If you take the time to look below surface level, they’re an excellent prospect in 2020, here’s why… They have developed a detailed restructuring plan to address the low-return portfolios of Europe and the U.S. and to reshape Global Banking and Markets.
  4. 4. There are plans to create a combined Wealth and Personal Banking business. Charlie Nunn Chief Executive, Wealth & Personal Banking Appointed February 2020
  5. 5. The Global Banking & Markets and Commercial Banking division will incur the most restructuring. Samir Assaf (since Jan 2011) Chief Executive, Global Banking and Markets Barry O’Byrne (*NEW*Aug 2019) Chief Executive, Global Commercial Banking
  6. 6. They have begun an ambitious simplification and cost- reduction program, while increasing IT investment. Total forecasted IT Budget for 2020 is $3.9 Billion
  7. 7. They have reorganized their management structure with 9 new senior executives joining in 2019 & 2020
  8. 8. *NEW* Senior Executive Leaders Noel Quinn (Aug 2019) Group Chief Executive Ewen Stevenson (Jan 2019) Group Chief Financial Officer Jonathan Calvert-Davies (Oct 2019) Group Head of Internal Audit John Hinshaw (Feb 2020) Group Chief Operating Officer Pam Kaur (Jan 2020) Group Chief Risk Officer Charlie Nunn (Feb 2020) CEO, Wealth and Personal Banking Barry O’Byrne (Aug 2019) CEO, Global Commercial Banking Michael Roberts (Oct 2019) President and CEO, HSBC USA António Simões (Jan 2019) CEO, Global Private Banking
  9. 9. This is a robust plan built around things they can control ➙delayer and de-matrix the organization ➙more agility and simplicity in the organization BEFORE AFTER
  10. 10. The rundown program is likely to take 3 years to execute, with a dedicated team now set up to execute it. ➙They have established a dedicated transformation team to focus on executing the restructuring ➙There is a separate team focused on building future growth strategies
  11. 11. There is a 3 to 4 year plan to create a single data warehouse and heavily use the cloud which should lead to a dramatic improvement in the productivity of the finance department. And they foresee similar efficiency programs across much of the back office and middle office.
  12. 12. John Hinshaw is the new Group COO (Feb 2020) who's got a deep background in technology and has led similar restructurings at HPE where he was EVP and managed technology and operations functions.
  13. 13. The HSBC deep dive company profile report has 100+ pages of actionable sales intelligence. databahn help account executives and marketers eliminate costly research time and uncover new sales pipeline opportunities. Please visit www.databahn.com to request a sample Global 2000 company profile report. Global 2000 Company Profiles

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