HSBC is preparing to wind down its M&A and equity capital markets businesses in Europe, the UK and the Americas as part of a major shake-up of its investment banking operations, a memo showed on Tuesday.

HSBC Holdings Plc (LON:HSBA) is set to scale down its investment banking operations in certain regions as part of an ongoing restructuring process led by CEO Georges Elhedery. The bank will cease providing equity underwriting and advisory services in Europe,

HSBC Holdings Plc, has announced plans to scale down its investment banking operations across Europe, the UK, and the Americas. Europe's largest banking group wants to concentrate its resources on Eastern markets,

Wells Fargo's co-CEO of corporate and investment banking (CIB), Jon Weiss, has informed the bank of his intention to retire and will step down from his position effective immediately, the company said on Thursday.

Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.