HSBC Holdings braces for latest round of job cuts

From its headquarters near the Thames to its Asian hub by the South China Sea, HSBC Holdings Plc is abuzz.

With days to go before the bank unveils a restructuring, trading desks and back offices are bracing for scenarios that could see the announcement of another reshuffle of senior management, a surprise new chief executive, withdrawals from businesses and job reductions across the globe. It will be the London-based lender’s third major overhaul in a decade, and it will be announced today. “The current strategy is in no man’s land,” said Lutz Roehmeyer, chief investment officer at Capitulum Asset Management in Berlin, which holds HSBC shares and has been cutting its exposure.