By HSBC’s shareholders have given a resounding vote of confidence to CEO Noel Quinn’s strategy to reduce the bank’s investment banking footprint. The decision, approved at the annual general meeting on February 16, 2025, underscores HSBC’s shift toward more stable and predictable revenue streams, such as retail and commercial banking.
The retrenchment plan involves exiting high-risk trading desks and reallocating resources to areas like wealth management and digital banking. Analysts believe this move will strengthen HSBC’s financial resilience and align it with industry trends favoring simplification and risk management.
With 85% of shareholders supporting the plan, HSBC’s shares rose 2.5% following the announcement. Investors appear optimistic about the bank’s ability to navigate the changing financial landscape under Quinn’s leadership.