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The Independent UK

Business

Anna Wise

Europe’s biggest bank announces overhaul with split into East and West

Europe Georges Elhedery HSBC

The offices of banking giants HSBC and Barclays are pictured at the secondary central business district of Canary Wharf - (AFP via Getty Images)

Europe’s biggest bank has unveiled an overhaul of its global structure in a shakeup to reduce costs.

The new boss of HSBC Georges Elhedery has announced the changes to home in on the bank’s strongest divisions.

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