HSBC CEO Georges Elhedery reiterated that the bank has pledged not to cut jobs in connection with its planned privatization of Hang Seng, according to Ming Pao. He said some positions may be affected by the deal, but the bank has already drawn up upskilling and training plans for all employees so they can move into roles where investment is increasing.

Elhedery added that HSBC is still a net investor in its workforce in Hong Kong.