HSBC’s investors have thrown their support behind CEO Noel Quinn’s plan to exit high-risk investment banking activities, marking a significant shift in the bank’s strategy. The decision, approved at the annual general meeting on February 16, 2025, reflects HSBC’s focus on stability and long-term growth.
The retrenchment plan includes reallocating resources to retail and commercial banking, 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 voting in favor, 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.
