HSBC Holdings PLC has proclaimed that it is going to sell off its private-equity fund-management units in Hong Kong, the U. K., the U. S., Canada and the Middle East to the respective management wings.

For its Chinese operational units, the bank has appointed Helen Wong as the new Chief Executive Officer.

As HSBC prepares for its re-organization of the management, Executive Chairman, Stephen Green is has announced that he will resign from the post.

This was stated in a report by the Sunday Telegraph, that the post by Green, will be taken over by non-executive Director, John Thornton by the end of this year.

The report also informed that the post of Chairman in the firm will also be acquired by role a non-executive.

According to the Chairman of the Middle East and Europe, HSBC, who is the major creditor of Dubai World, is ready to sign the Conglomerate’s Debt Restructuring Proposal.

Stuart Gulliver, who oversees the British bank’s global wholesale banking, stressed that HSBC was not speaking as a part of the seven member Coordination Committee, but was speaking as a major private creditor.

HSBC’s business and markets run by Stuart Gulliver, received £15.3 million. He is the bank's top paid employee, and the head of global markets Samir Asaf, received a bonus more than £9 million.

A survey unveiled Wednesday forwarded a slight plunge in business confidence in the Gulf Arab oil producing region for the Q4 for 2009. In spite of this Kuwait and Saudi Arabia experienced an improvement.

In the prior quarter, the HSBC quarterly survey displayed a decline to 80.2 from 81.4 in the confidence index in the world's to oil exporting region. This was its highest level since October 2008, when the global financial crisis hit.

HSBC Bank Middle East has announced that it has fired as many as 80 employees in the UAE because of financial uncertainties worldwide.

The lender has pink-slipped less than two per cent of the entire team of the UAE. Total workforce strength of the bank in the country is about 4,000 people.

The sources said that HSBC laid off the staff a day after competitor UK-based Standard Chartered Bank, or SCB, revealed its proposal to hire 850 priority banking officials across Asia.

HSBC Holdings is set to retrench around 90 junior and middle management employees in the United Arab Emirates, apparently due to unfavorable conditions of the economic market. The bank, having around 4000 employees in UAE, has offered six months' salary as a severance package for the redundant employees.