Boss Georges Elhedery (pictured) is pressing ahead with an overhaul of the Asia-focused bank including a geographic split between East and West.

HSBC will shut key parts of its investment banking business in the UK, Europe and the Americas as part of chief executive Georges Elhedery’s plan to overhaul its operations.

HSBC Holdings Plc will wind down some of its investment banking operations in Europe, the UK and the Americas in the latest sign that Chief Executive Officer Georges Elhedery is willing to be ruthless in his ongoing restructuring of the bank.

HSBC is set to wind down parts of its investment banking operations across the UK, Europe and North America as part of a sweeping global restructuring plan under new chief executive Georges Elhedery.

HSBC Holdings Plc (LON:HSBA) is set to scale down its investment banking operations in certain regions as part of an ongoing restructuring process led by CEO Georges Elhedery. The bank will cease providing equity underwriting and advisory services in Europe,