The changes follow the news at the end of April that HSBC will cut around 2,200 UK jobs amid a group wide restructure designed to “eliminate unnecessary bureaucracy” within the bank.
As part of the marketing restructure the head of digital marketing communications role, currently held by Lisa Walker, is likely to be abolished. Digital marketing will no longer be led by a specialised head of department and other heads of function roles may also be axed.
Instead HSBC’s online, offline and retail marketing functions are likely to be combined into one team as are the direct marketing and eCRM teams.
Changes to the marketing team are not expected to result in any significant number of job cuts but will see a reorganisation of how the marketing function works.
A spokesperson for HSBC says: “We are in consultation as part of the restructure but it would be inappropriate to comment on the changes to the marketing team.”
Brian Robertson, CEO of HSBC Plc, said last week that the efforts to reduce layers of management is designed to “enhance efficiency” and “ensure continued profitability” as outlined in a strategy overhaul in may 2011.
HSBC has previously said that there will be 30,000 fewer jobs in the group by 2013. The bulk of jobs being lost in senior or middle management positions so that there are fewer levels between senior leaders and customer facing staff “on the front line” of the business in a bid to improve customer service.