HSBC Cutting 100 Senior Investment Bankers

(RTTNews) - HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs.

According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as it continues to struggle mainly due to the after-effects of Brexit and weak economy across Asia where the bank mainly focuses.

Last year in June, several top bankers left the bank's global banking division after a reshuffle by new head Matthew Westerman.

"We review on an annual basis performances across Global Banking & Markets and make appropriate changes to strengthen and grow the business," a spokesman for the bank said in an emailed statement, according to Reuters.

Earlier reports had suggested hat Goldman Sachs and UBS are also looking to cut staff.

Few days ago, reports warned that HSBC and UBS could each move about 1,000 jobs out of London. HSBC Chief Executive Stuart Gulliver is reportedly planning to relocate staff to Paris.