HSBC’s shareholders have endorsed CEO Noel Quinn’s plan to retrench the bank’s investment banking operations, signaling a strategic shift toward retail and commercial banking. The decision, approved at the annual general meeting on February 16, 2025, reflects HSBC’s focus on stability and long-term growth.
The retrenchment plan includes exiting high-risk trading desks and reallocating resources to wealth management and digital banking. Analysts have praised the move, noting that it aligns with broader industry trends and reduces exposure to volatile markets.
With 85% of shareholders voting in favor, HSBC’s shares rose 2.5% following the announcement. Investors appear confident in Quinn’s leadership and the bank’s ability to adapt to the evolving financial landscape.
