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HSBC's Georges Elhedery Says Streamlining Work Not Finished; AI Tools Provided to 170K Employees
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HSBC HOLDINGS (00005.HK) chief executive Georges Elhedery said in a Bloomberg TV interview that many senior executives were not fully accountable for the businesses they oversaw prior to his restructuring of the bank 15 months ago. After taking over HSBC HOLDINGS, Elhedery nearly halved the size of the operations committee and eliminated co-management positions that he believed allowed executives to evade decision-making responsibilities. Elhedery noted that all matters were previously subject to dual or multiple accountability systems, but now about 60% of HSBC HOLDINGS' revenue is generated under a single accountability system. There is still more work to be done to make HSBC a leaner bank, Elhedery stressed. In the streamlining process, he is committed to integrating AI into the bank's operations. Currently, around 170,000 employees have been provided with AI tools. AAStocks Financial News |
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