HSBC chief executive Georges Elhedery is restructuring the bank into four divisions, with separate UK and Hong Kong units, in a move to cut costs and address geopolitical tensions. The overhaul will split operations into eastern and western markets, with a new leadership team and a focus on simplifying the organizational structure. The bank will also see changes in its top management and leadership positions, with a new focus on strategic client relationships and a $300mn cost-cutting drive targeting senior bankers.
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Junior Bridgeman, N.B.A. Player Turned Mogul, Dies at 71
Junior Bridgeman, a former N.B.A. player turned successful entrepreneur, passed away at 71 in Louisville, Ky. He amassed a net worth of $1.4 billion through investments in fast-food restaurants, a Coca-Cola bottling business, and a minority stake in the Milwaukee Bucks. Bridgeman's business acumen and leadership extended beyond basketball, leaving a lasting legacy in both the sports and business worlds. Full Article
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