HSBC (HKG:0005) is dismantling a geopolitical team responsible for identifying risks in countries the bank has a presence in, Bloomberg News reported Friday.
The move will impact less than 10 roles across Asia, Europe, and other regions, the report said, citing people familiar with the matter.
The bank is disbanding the team to simplify its corporate structure and will rely on expertise elsewhere to provide insights moving forward, according to Bloomberg.
"We continue to focus on supporting our clients as they navigate a complex and fast-moving international environment," HSBC said in a statement, according to Bloomberg.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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