According to reports, Georges Elhedery, the CEO of HSBC Holdings, plans to carry out a comprehensive reform of the bank, once again sparking debate on the division of the group. Rajiv Jain, the founder of GQG Partners, who holds nearly 0.8 billion US dollars of HSBC shares, said that the direction of HSBC's development should ultimately be a split. HSBC may have lost its direction in the process of trying to become a global bank and compete with large American investment banks, which has always been a fatal weakness for many Swiss and British banks. HSBC's largest shareholder, Ping An Insurance of China, had vigorously pushed for this idea, but it was voted down in an investor vote last year. HSBC announced on Tuesday a simplification of the organizational structure into four core businesses, namely covering the overall operations of "Hong Kong, China" and "United Kingdom", as well as customer-based classifications of "Corporate and Institutional Banking (CIB)" and "International Wealth Management and Personal Banking (IWPB)", which will take effect on January 1st next year. HSBC stated that the restructuring will reduce process and decision-making redundancies, but did not disclose details on the scale of layoffs or restructuring costs. One shareholder supporting the restructuring stated that this should help HSBC reduce the costs of its global departments, enabling them to build a more streamlined and efficient global bank.