London | Hong Kong | HSBC chief executive Georges Elhedery plans to target the lender’s expensive layer of senior bankers in a cost-cutting restructure that will aim to save as much as $US300 million ($446 million), according to people familiar with the matter.
Mr Elhedery is drawing up plans to merge HSBC’s commercial banking unit with its global banking and markets unit in his first big step to cut costs since taking the job last month.
