HSBC Holdings plc Sponsored ADR (HSBC)
HSBC reportedly seeking out $3bn in savings through overhaul
HSBC Holdings PLC (LSE:HSBA) is reportedly looking to save as much as US$3 billion (£2.4 billion) through its overhaul under new chief executive George Elhedery. Bloomberg-cited sources said managers had been informed of the rough target last week and told the major overhaul would take until June next year to complete.
HSBC accused over Paraguay deforestation funding
HSBC Holdings PLC (LSE:HSBA) has been named as one of ten global banks funding the deforestation of an area in Paraguay described by naturalist David Attenborough as one of the world's last wildernesses. Environmental group Global Witness says the banks are funding cattle companies that have chopped down 75,000 hectares of forest in the Gran Chaco region in the past three years alone.
HSBC announces senior management exits as global reorganisation continues
HSBC , said on Thursday it has completed a restructuring of its major business units and functions, as Europe's largest bank seeks to streamline its global operations via a sweeping overhaul under new CEO Georges Elhedery.
Exclusive: HSBC appoints Lisa McGeough to lead US as CEO Elhedery shuffles leaders
HSBC promoted Lisa McGeough to become its president and CEO for the United States at the start of next year, the bank said on Thursday in a statement first seen by Reuters.
HSBC shipping expert discusses upcoming shocks to the global supply chain
Parash Jain, global head of shipping and ports at HSBC, discusses market outlook ahead of expected changes in U.S. trade policy.
HSBC to Close China Credit Card Business Amid Expansion Struggle
HSBC plans to move away from its China credit card business as it faces growth and profitability constraints, given high competition and lower consumer spending.
HSBC economist says he prefers countries with a strong domestic market in light of tariff risks
Frederic Neumann, chief Asia economist and co-head of global research for Asia at HSBC, says he favors countries with a strong domestic economy and limited external trade exposure in the near term, given the uncertainty of how the incoming Trump administration will implement tariffs.
HSBC starts search for next chairman, Sky News reports
UK-headquartered HSBC Holdings' board has appointed headhunters to start the recruitment of its next chairman to succeed Mark Tucker, Sky News reported on Saturday.
TD Bank taps HSBC Canada's former chief compliance officer, sources say
TD Bank has hired Georgia Stavridis from Royal Bank of Canada to become a vice president in financial crimes risk management, a newly created role, three sources told Reuters.
Exclusive: HSBC pulling back from China credit card business after struggling to expand, sources say
HSBC is pulling back from its credit card business in China eight years after its launch, as the lender struggled to expand and make the enterprise profitable in the world's second-largest economy, sources with knowledge of the matter said.
HSBC loses court challenge against $33.4 mln EU cartel fine
Europe's second-top court on Wednesday rejected HSBC's challenge against a 31.7 million euro ($33.4 million) fine imposed by EU antitrust regulators three years ago.
Expect RBNZ to 'slow down' pace of monetary easing in 2025: HSBC
Paul Bloxham of HSBC explains why he expects the Reserve Bank of New Zealand's official cash rate to lower to 3.25% by the end of 2025.
