The closure of Jamie Oliver’s chain of restaurants means HSBC is sitting on about £30 million of potential losses.
Even though HSBC smashed their profit forecast, its trading business had a poor first quarter.
Europe’s biggest lender has faced questions over its strategy since it failed to deliver on a pledge to deliver revenue gains in 2018.
HSBC, which owns about 60% of subsidiary Hang Seng Bank Ltd., has the biggest share across all major banking businesses in Hong Kong.
Singapore goes all out to impose lengthly bans on convicted former HSBC and UOB bankers for fraud and dishonest conduct.
The London-based bank is building an ultra-high-net-worth team in Asia for clients with assets of about US$30 million or more.
The US Department of Justice relied on HSBC's findings to bring its current criminal case against Huawei's chief financial officer, Meng Wanzhou.
Goldman Sachs will be boosting its revenue by US$5 billion by selling more services to midsize companies.
The multi-page advertisement, described as an 'HSBC Staff Offer', is facing a huge amount of backlash over its sexist implications.
A source says those affected will be informed this week.
The region has come a long way since the 1997-1998 Asian Financial Crisis, says HSBC head of strategy and planning for Asia-Pacific.
The Asia-focused banking giant has been on a recovery and huge restructuring drive in recent years to streamline the business.
HSBC has played an increasingly active role in Saudi Arabia in recent years and its Chief Executive John Flint said the bank will remain supportive of its local affiliate in the kingdom, Saudi British Bank (SABB).
The wealth strategy is part of Flint’s plan to grow HSBC by expanding in Asian markets including Greater China and Southeast Asia.
HSBC's private banking business had a torrid time following embarrassing data leaks in 2008 allegedly showing tax evasion by clients.
Flint, promoted to chief executive officer in February, plans to grow the global behemoth by expanding in key Asian markets including China and establishing the lender as a top-tier wealth manager.
Lenders globally have faced declining revenue from the US$9 trillion business of funding cross-border commerce for five years running, thanks to a drop in margins that is persisting in Asia.
Stuart Scott was charged, along with his ex-boss Mark Johnson, by the US Justice Department in July 2016 with front-running a US$3.5 billion currency order from Cairn Energy Plc in 2011 that made the bank US$8 million.
The appointment of 52-year-old Stevenson completes a new top team at HSBC, with CEO Flint and Chairman Mark Tucker also taking up their posts in the past year.
Hong Kong banking giant HSBC said Friday that pre-tax profit dipped four percent to $4.76 billion in the first three months of the year owing to rising operating costs but added it would buy back $2 billion worth of stock.
Banking group gives a gloomy assessment of PH manifesto, says private investment may slow down.
The banking group says the opposition’s proposal to reverse the GST, fuel subsidies and China’s investments may result in a weaker currency in the short term.
Hussain, who joined the UK bank in 1982, will move to Hong Kong and start the position on July 1, London-based HSBC said in an emailed statement Monday.
HSBC Bank Malaysia CEO says this is world’s fastest-growing region online, with four million new users getting connected every month.
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