HSBC begins cutting around 100 senior bankers globally: sources

[LONDON] HSBC has begun cutting around 100 jobs in its investment banking division worldwide this week, according to sources with direct knowledge of the matter.

The cuts affect bankers at managing director and director level in the lender's Global Banking and Markets division, the sources said, declining to be identified due to the sensitivity of the matter. "We review on an annual basis performances across Global Banking & Markets and make appropriate changes to strengthen and grow the business," a spokesman for the bank said in an emailed statement.

REUTERS