Strategy is domed to fail. Already undergoing the second restructuring as the first one failed. Colleagues are being let go instead of the senior people which is very hurtful. RWA reduction is being pursued aggressively which should have been done 5 yrs back. They should be expanding into India and USA instead of focusing all their energies into China. No doubt a third restructuring will be announced in 2 years as top line growth will remain challenging. The only constant will be the senior management. Pray the institutional investors and activists do the right thing. Share price reflects all this.