HSBC’s overhaul will see the bank split into four separate units under the control of two distinct Eastern and Western markets divisions, new CEO Georges Elhedery said

HSBC Holdings will reorganise its worldwide operations into four business units and two geographic areas, as one of the world’s largest banks creates a structure that makes Hong Kong – the H in HSBC – the “top strategic priority” in its global network of 62 markets.

HSBC's new boss has announced a major overhaul of the bank's structure, splitting geographically into eastern and western markets amid increasing geopolitical tensions and a need to cut costs. The bank said that it was simplifying operations by splitting into four key units,

By Selena Li, Lawrence White and Sinead Cruise HONG KONG/LONDON (Reuters) -HSBC Holdings merged some operations and split its geographic footprint into East and West in a sweeping restructuring under new CEO Georges Elhedery that includes the appointment of the bank's first female finance chief.

As part of the re-organisation, HSBC also announced the first-ever female finance chief in the bank's 159-year history. Pam Kau, currently the chief risk and compliance officer, has worked for the bank for more than a decade.

HSBC has unveiled a significant restructuring of its business, which will see the global bank rearrange itself along geographical lines and under four operational units instead of the current three. The bank is simplifying its global structure,