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LONDON, June 6 (Reuters) - HSBC is to restructureits global banking division to cut costs and make the businessmore "agile", according to an internal memo seen by Reuters onMonday.
The reorganisation is part of HSBC's plans announced lastJune to slash nearly one in five jobs and shrink its investmentbank by a third as it seeks to boost profits.
HSBC did not say how many jobs would be cut in thiscost-saving drive, which follows the re-integration of thecapital finance business back into global banking, which wasannounced in February.
Reuters reported last week that the bank would be trimmingdozens of senior jobs in its investment bank as a result of apending reshuffle.
The changes include setting up a new corporate, financialsand multinationals banking unit to be headed by Philippe Henry,according to the memo from global banking co-heads RobinPhillips and Matthew Westerman.
"Our new structure will ...improve returns for ourshareholders by improving our profitability and generatingefficiencies," the pair said in the memo.
A spokesman for HSBC confirmed its contents.
HSBC also said it would set up a new advisory team,combining corporate finance with mergers and acquisitionsexecution.
IFR, a Thomson Reuters publication, earlier reported thatJohn Crompton, who was HSBC's global head of corporate finance,and Florian Fautz, global head of M&A, left the bank last weekas part of the restructuring.
Several dozen junior staff will leave as part of thechanges, IFR reported.
(Reporting by Lawrence White; editing by Jason Neely and JaneMerriman)