Market Chatter: HSBC Closes 160-Year-Old Training Program to Cut Costs

MT Newswires Live12-12 18:04

HSBC (HSBC) closed a fast-track management program as part of its latest cost-cutting efforts, ending a training course that began 160 years ago and counts among its alumni former chief executives Stuart Gulliver and John Flint, according to a report in the Financial Times.

The "International Manager" program, which trained the next generation of HSBC executives, has been closed to recruits, the FT reported, citing people familiar with the matter.

HSBC did not immediately respond to a request for comment from MTNewswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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