Reference Links:
- https://www.bcg.com/publications/2017/transformation-value-creation-strategy-hsbc-simplifying-organization
- https://www.bcg.com/publications/2018/transforming-business-through-technology-interview-darryl-west-group-cio-hsbc
BCG might be following same pattern with Citi as it did for HSBC.
- Eliminate mgmt layers to 4 (5 in Citi) directly reporting to Jane.
- Run more areas as single verticals (merge of ICG, GFT)
- Fire expensive workers and bring low cost employees (Move towards LC centers)
- Let go of trade executors, equity sales and few other areas
- Reduce applications, infrastructure, softwares. All duplicate projects to be counted.
- Move resources internally a lot. relocating them if possible to LC zones.
- Cloud adoption in technology.
- Agile and speed delivery with less cost. Project cost has to be greatly reduced.
Will be back with more inputs ....
- Digital initiatives - ML, Automate backoffice, Customer journey.