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HSBC CEO tasks new virus unit to deal with business failures among clients

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LONDON (BLOOMBERG) - HSBC Holdings' recently-installed chief Noel Quinn has tasked his top bankers with creating a global restructuring team for corporate clients struggling over the coronavirus pandemic.. Read more at straitstimes.com.

LONDON - HSBC Holdings' recently-installed chief Noel Quinn has tasked his top bankers with creating a global restructuring team for corporate clients struggling over the coronavirus pandemic.

Patrick Nolan, global head of corporate banking, will lead the yet-to-be-created unit and has been named head of client leadership, according to an internal memo seen by Bloomberg. Guyett said the bank would have to support the restructuring of some of its clients, while balancing the lender's own needs. Nolan will relinquish his corporate banking role. HSBC's chief risk officer Pam Kaur will also be involved in the work.

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