HSBC thought needed to announce bold changes

HSBC Canary Wharf

No longer feared as 'too big to fail', shareholders are weighing whether HSBC is now 'too big to succeed', and want to know next week how the bank's bosses propose to increase profitability at a sprawling group beset by huge costs.

Reuters reports that investors believe CEO Stuart Gulliver and Chairman Douglas Flint need to announce bold moves to restore the bank's flagging fortunes at a strategy day on June 9.

'This investor day is potentially a very significant event', said Chris White, head of UK equities at Premier Asset Management, which owns HSBC stock. 'The world has moved against them and HSBC has to try to react to that. That is why we could end up seeing some quite radical surgery here'.

To access the complete Reuters article hit the link below:

Too big to succeed? Investors want 'radical surgery' at HSBC

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