Noel Quinn, chief executive, has been cost-cutting and switching the bank's focus towards Asia and confirmed that the bank's restructuring programme remains on track with 35,000 jobs to go as part of a plan to cut US$4.5bn of costs by 2022. Quinn added HSBC would also switch to a hybrid working model wherever possible, with plans in hand to reduce global office space by more than 3.6mln sq ft or 20% by the end of 2021. Three of the bank's global business CEOs would relocate to Asia, he reiterated.