Noel Quinn

HSBC said yesterday that first-quarter profits dropped nearly 30 percent owing to higher-than-expected credit losses and inflation but the Asia-focused lending giant remained upbeat about its outlook.

HSBC is considering selling its Turkey business amid concerns about the country's volatile currency and economic outlook, sources familiar with the matter have said.
As part of broader cost-cutting measures under interim chief executive Noel Quinn, the bank is also seeking to sell or shrink its business in some other markets, the sources said.

HSBC, a British bank, plans to fire up to 10,000 employees as part of a cost-cutting program under which new interim chief executive Noel Quinn is seeking recognition. This was reported by the Financial Times, citing two informed sources.