HSBC Holdings plc Sponsored ADR (HSBC)
HSBC Shares Up 17% Since Canada Divestiture, Focus Shifts Toward Asia (Revised)
HSBC shares have surged 17% since selling its Canadian business to RBC for C$13.5B. The deal aligns with HSBC's strategy to focus on Asia while boosting investor returns.
Exclusive: HSBC probes China Pinnacle wealth business on costs and control, say sources
HSBC Holdings Plc is reviewing expenses and operational controls at its China digital wealth business Pinnacle, in a move that could result in layoffs and mark an abrupt reversal of the lender's ambition for the unit, several sources said.
HSBC appeals decision reinstating female banker's discrimination claim
HSBC on Thursday appealed a tribunal's decision to reinstate a female, senior investment banker's lawsuit that alleges the bank victimised and discriminated against her when it did not hire her for a senior sales position in 2018.
HSBC Plans to Expand Private Wealth Management Business in Canada
HSBC aims to double its private client business in Canada as the Canadian private wealth management market offers an attractive opportunity for the company.
HSBC Cutting Top Managers in $300 Million Savings Plan
Management ranks at banking giant HSBC could soon begin to thin. The Financial Times (FT) reported Thursday (Oct. 10) that sources familiar with the matter say new CEO Georges Elhedery plans to restructure HSBC's senior banker level as part of a plan to save up to $300 million.
HSBC to trim layer of senior management by merger of banking divisions
HSBC Holdings PLC (LSE:HSBA) is reportedly close to axing some of its most highly paid senior bankers to try and cut up to $300 million of costs. After taking over as chief executive last month, Georges Elhedery is working on a merger of the lender's commercial banking division and its global banking and markets unit, the Financial Times reported today.
HSBC exec says there's a lot of AI 'success theater' happening in finance
"Candidly, there's a lot of success theater out there" when it comes to applying artificial intelligence in banking, HSBC's head of generative AI said at a tech event in London this week. Achtner's comments come as other figures in the financial services sector — particularly leaders at startup firms — have made bold statements about the level of overall efficiency gains and cost reductions they are seeing as a result of investments in AI.
RBNZ likely to cut rates by another 50 basis points at its next meeting: HSBC economist
Paul Bloxham, chief economist for Australia and New Zealand and global commodities at HSBC, says the Reserve Bank of New Zealand is likely to cut rates further in 2025, reaching a policy rate of 3.25% by end-2025 or 3% by early 2026.
Companies to top 'low-bar' Q3 earnings estimates: HSBC global CIO
With third quarter earnings season set to kick off this week, Willem Sels, HSBC global CIO of global private banking and wealth, joins Catalysts to break down what investors should be watching. "The earnings season has actually a relatively low bar in the third quarter.
HSBC Scraps Some Internal Events, Restricts Travel
Bloomberg has learned that HSBC Holdings has canceled some internal events and further curtailed travel as the bank's new CEO seeks to keep a tight lid on costs. Russell Ward reports on Bloomberg Television.
HSBC (HSBC) Implements Cost-Cutting Measures Amidst Global Challenges
HSBC Holdings is intensifying its cost-control initiatives by canceling some internal events and reducing company travel. These steps come as the new CEO, Georges Elhedery, aims to manage expenses closely ahead of the third-quarter earnings report.
HSBC arm First Direct cuts its mortgage rates to match rivals
HSBC Holdings PLC (LSE:HSBA) online arm First Direct has cut rates across its range of 100 mortgage products as competition for homebuyers continues to intensify. For buyers with a 40% deposit, the rate starts as low as 3.79% for a five-year fixed deal with a fee of £490, while three-year fixes with a 15% deposit drop to 4.74% from 4.99%.
