wall street skyline — NEW YORK, NY - SEPTEMBER 9: Two men look out the window of the 63rd floor of One World Trade Center toward Manhattan prior to an event to commemorate the federal government's return to One World Trade Center, September 9, 2016 in New York City. U.S. Customs and Border Protection, Federal Office of Emergency Management, and General Services Administration will have office space at One World Trade Center. (Photo by Drew Angerer/Getty Images)
Drew Angerer/Getty Images

Europe's largest bank acknowledged big changes are coming when reporting its earnings Tuesday.

HSBC said it's looking to drive the majority of revenue from fee-based business as opposed to interest rates, as was previously the case.

Reuters has a nice round up on the news, along with some reaction about how it could be received by the market.

It's worth noting part of this shift in strategy could include more fees for standard banking accounts. With Britain being home to some of the most successful neobanks, that type of change won't be welcomed by customers.

If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.

Charles Schwab's 'difficult' day

Charles Schwab CEO Walt Bettinger, left
Justin Sullivan/Getty Images

Great scoop by Rebecca Ungarino on the cuts taking place at Charles Schwab.

In case you missed it, Schwab announced it is cutting roughly 1,000 employees as part of the integration of recently-acquired TD Ameritrade into the company.

Rebecca got to take a look at the memo sent out by Schwab's head of client service and support.

Read the full memo here.

How one alt-data company that rates CEO performance aims to be the S&P or Moody's of tracking management teams

Alternative data's use is exploding, and so too are worries about a regulatory crackdown
Shayanne Gal/Business Insider

Bradley Saacks with a nice hit on an alt-data provider looking to rate management teams. Learn more about how Paragon Intel is able to establish ratings based on decisions executives make. Read the whole story here.