HSBC said Tuesday that it would combine some of its commercial and investment banking operations in a major overhaul under its new CEO, which will see it cut costs while trying to improve returns.

HSBC chief executive Georges Elhedery has announced an overhaul of the bank that would split it into four divisions and create a new geographic set-up separating east from west. The bank will split off its UK and Hong Kong businesses into new units,

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 restructuring of Europe’s largest lender comes as it looks to cut costs and navigate a diplomatic minefield across its sprawling operations.

HSBC has announced the appointment of its first female finance chief in the bank's 159-year history as its new boss shakes up the business. Pam Kaur has worked at the bank for more than a decade and is currently its chief risk and compliance officer.

This is an audio transcript of the FT News Briefing podcast episode: HSBC’s east-west split [MUSIC PLAYING] Sonja Hutson Good morning from the Financial Times. Today is Wednesda