HSBC Plans Major UK Wealth Job Cuts as AI Reshapes Adviser Model

HSBC is planning sweeping job cuts across its UK wealth management business as it pushes to use artificial intelligence to serve affluent clients more efficiently, according to a report citing people familiar with the plans. The proposed overhaul could eliminate about half of management and specialist roles and reduce the number of financial advisers by about 70%, with affected employees expected to leave at the end of October after a consultation period, Investing.com reported.