Just weeks after its market capitalization first surpassed £200 billion, HSBC Holdings Plc has set an internal ambition to reach a £300 billion valuation over the next three years. The bank’s management detailed plans to reallocate capital toward higher-return businesses in Asia, where it generated 58% of pre-tax profits last year, and to trim lower-margin operations in Europe and North America. As part of the restructuring, HSBC expects to reduce its global workforce by approximately 10%, or about 20,000 roles, by the end of 2026, while reinvesting savings into digital platforms and wealth management in Hong Kong, Singapore and mainland China. The bank also reiterated its intention to return at least £14 billion to shareholders through dividends and share buybacks over the next two years, contingent on regulatory approvals and underlying earnings growth.

Speaking at the World Economic Forum in Davos, Michael Roberts, HSBC’s head of corporate and institutional banking, emphasized that the bank’s adoption of artificial intelligence will drive efficiency without triggering widespread job cuts. Roberts noted that HSBC employs around 200,000 staff globally and is piloting machine-learning tools in credit underwriting, trade finance and compliance monitoring. He forecast that AI could boost processing efficiency by up to 35% in certain back-office functions, enabling redeployment of staff to client-facing advisory roles rather than redundancies. Roberts also highlighted ongoing geopolitical risks, including tightening cross-border regulations and shifts in trade flows, stressing that the bank’s newly simplified structure will enhance agility in responding to such challenges.