HSBC is planning to cut as much as 70% of its financial advisers in the UK, according to a Techub News item citing Finextra Crypto. The move is described as part of a broader reduction in the bank’s wealth management business. The input states that the planned cuts are being driven by increased use of artificial intelligence. No further details were provided in the source material on timing, headcount, or which parts of the UK operation would be affected. The report links the staff reduction directly to HSBC’s push to apply AI more widely in this area of the business.
HSBC plans to cut up to 70% of its financial advisers in the UK, according to Techub News, which cited Finextra Crypto.
The planned reduction is part of a broader cutback in the bank’s wealth management business. The source says the move is being driven by increased use of AI.
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