Mortgage News
HSBC to cut 460 ‘advisory’ jobs – reports
HSBC Holdings is set to cut about 700 jobs in its UK retail banking arm, including several hundred ‘advisory’ positions, according to reports.
The reported reduction of 460 advisory positions across the bank’s UK branches comes prior to implementation of the Retail Distribution Review (RDR), according to a Reuters sources.
HSBC employs 55,000 staff in the UK.
Today, Lloyds announced it is cutting 15,000 jobs as it outlined plans to target the bancassurance sector and take advantage of a perceived ‘advice and distribution gap’ caused by the RDR.
