HSBC to exit M&A and capital markets businesses in UK, Europe and the U.S.
1. HSBC to wind down M&A and equity capital markets in Europe and U.S. 2. The move aims to simplify operations and focus on Asia and the Middle East. 3. CEO Georges Elhedery is leading a cost-cutting overhaul at HSBC. 4. HSBC's London shares fell 0.36% following the announcement. 5. New geographic setup will consolidate into four business units.