U.K.-based HSBC is likely to soon announce plans to restructure its business that would, among other things, keep Stuart Gulliver and John Studzinski would as co-heads of its investment bank and capital markets operations, reports Reuters. Studzinski reportedly would concentrate more on client relationships. Proposed changes would undue a move in 2002 in which the world’s third-largest bank combined units to create a corporate, investment banking and markets (CIBM) unit. The projected proposals, reportedly prompted by the so-so performance of the unit, would transfer capital markets into the markets division, while HSBC’s M&A advisory group would remain in the investment banking division to concentrate on client relationships, according to Reuters. A new global markets division will be run by Mike Powell, currently head of markets in Europe and the Middle East, while Danny Palmer, currently co-head of European capital markets, will head the combined capital markets business.
