HSBC to exit M&A and capital markets businesses in UK, Europe and the U.S.
1. HSBC is winding down M&A in Europe, UK, and US. 2. Focus shifts to Asia and the Middle East for M&A services. 3. CEO Georges Elhedery targets cost-cutting and operational consolidation. 4. HSBC shares fell 0.36% amid this announcement. 5. A review of investment banking operations is ongoing.