HSBC plans job cuts across UK wealth business in AI push 

 
HSBC plans job cuts across UK wealth business in AI push: “HSBC’s cuts tell a story of AI moving up the value chain into client-facing roles that banks have historically protected. It marks a u-turn from HSBC’s 2023 hiring drive, which aimed to add 100+ wealth managers towards a target of £100bn UK wealth assets by 2030. The next key date will be HSBC’s Q3 2026 earnings release on Oct 27, where commentary on UK wealth AUM growth and cost-income ratio will indicate whether the cuts show up as credible efficiency or a client-retention problem.”
 
Angeline Ong, Senior Technical Analyst at investing and trading platform IG, reviewing HSBC’s job cuts announcement this morning.