04

Dec

HSBC’s long-term vision called into question

HSBC's appointment of Brendan Nelson as chairman on a permanent basis raises questions about the Asia-focused bank's succession planning and long-term vision, corporate governance experts and analysts said. Nelson's elevation…

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28

Oct

HSBC third-quarter profit slides 14% on legal charges

HSBC Holdings reported a 14% decline in third-quarter pretax profit on Tuesday, hurt by a $1.1 billion charge after losing part of an appeal in a long-running lawsuit tied to…

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17

Sep

HSBC Malta to be sold to CrediaBank

HSBC Malta will be sold to CrediaBank for €200 million under an agreement announced Tuesday, marking another step in HSBC’s ongoing retrenchment from smaller European markets. HSBC Continental Europe signed…

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30

Jul

HSBC first-half profit slumps 26%

HSBC Holdings reported a 26% slide in first-half pretax profit on Wednesday, missing analyst estimates, as impairments from its investment in Bank of Communications and exposure to Hong Kong real…

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19

Feb

HSBC unveils share buyback, cost cut targets as new CEO looks to boost returns

HSBC posted annual profit on Wednesday that beat estimates, helped by increased revenue in wealth and markets businesses, and set stiff cost-cut targets as its new CEO implements a revamp…

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14

Feb

HSBC to unveil $1.5 billion of annual cost savings

HSBC is preparing to report $1.5 billion of annual cost savings from the changes implemented under its broad restructuring initiatives, the Financial Times reported. The bank's Hong Kong shares fell…

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22

Oct

UPDATED: HSBC splits East and West in major revamp and appoints first female finance chief

HSBC, merged some operations and split its geographic footprint into East and West in a sweeping restructuring under new CEO Georges Elhedery that also included the appointment of the bank's…

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10

Sep

HSBC weighs commercial, investment bank merger to shed costs

HSBC is mulling the combination of its Commercial and Investment banking divisions to eliminate overlapping roles at the lender and cut costs, Bloomberg News reported, citing people familiar with the…

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20

Aug

HSBC mulls sale of South Africa business

HSBC Holdings is currently exploring a sale of its South Africa businesses, Bloomberg News reported on Tuesday, as the once globe-spanning company continues to move its focus towards Asia. The…

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17

Jul

HSBC appoints Georges Elhedery as group chief executive

HSBC Holdings Ltd said on Wednesday it has appointed Georges Elhedery as its group chief executive, with effect from Sept. 2. Elhedery, who joined HSBC in 2005, is the current…

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30

Apr

HSBC Chief Executive Quinn announces surprise retirement

HSBC said on Tuesday its Chief Executive Noel Quinn will retire - a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset…

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22

Dec

Royal Bank of Canada gets nod for $10 bln purchase of HSBC unit

By Nivedita Balu Dec 21 (Reuters) - Canada approved Royal Bank of Canada's C$13.5 billion dollars ($10.2 billion) acquisition of HSBC's domestic unit, in a deal that would further tighten…

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06

Dec

HSBC tests protecting FX trading from quantum computer attacks

By Sinead Cruise and Lawrence White LONDON, Dec 6 (Reuters) - HSBC has completed what it says is the world's first trial of a tool designed to protect highly sensitive…

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24

Nov

Thousands of HSBC customers in Britain report mobile banking outages

By Lawrence White LONDON, Nov 24 (Reuters) - Thousands of HSBC customers in Britain on Friday reported they were unable to access some mobile and online banking services, the latest…

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09

Nov

HSBC to build large personal banking business in India – country CEO

By Ira Dugal MUMBAI, Nov 9 (Reuters) - HSBC aims to further expand personal banking in India to serve the country's fast-growing pool of high-earning professionals, after the launch there…

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30

Oct

HSBC launches $3 bln buyback, profit disappoints on rising costs

By Selena Li and Lawrence White HONG KONG/LONDON Oct 30 (Reuters) - HSBC announced on Monday a fresh $3 billion share buyback, and a more than doubling of third-quarter profit…

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10

Sep

As war grinds on, HSBC halts Russia payments

By Iain Withers LONDON  (Reuters) - HSBC will halt commercial payments by business customers to and from Russia and Belarus, the bank said on Friday, as lenders tighten restrictions beyond…

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02

Jul

HSBC dumps London tower for smaller office as real estate reckoning unfolds

By Iain Withers and Chiara Elisei LONDON (Reuters) - HSBC's  move to ditch its 45-floor Canary Wharf tower in favour of a much smaller development in central London is one…

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26

Jun

HSBC to ditch Canary Wharf tower in favour of central London – memo

By Iain Withers LONDON, June 26 (Reuters) - HSBC has decided to leave its longstanding headquarters in Canary Wharf in east London in favour of a move to a much…

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24

May

Asia-focused HSBC puts 12 countries on exit watchlist

Reviews presence in smaller markets to chase bigger Asian growth Looking to add 2,000 Chinese wealth managers over next two years By Lawrence White LONDON, May 24 (Reuters) - HSBC…

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24

Apr

HSBC investors hold talks as proxy advisors oppose Asia spinoff

LONDON  (Reuters) - HSBC's most vocal individual activist shareholder Ken Lui on Monday said he had spoken for the first time with the bank's largest investor, Ping An, about their…

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19

Apr

HSBC top shareholder renews call for breaking up of bank

HONG KONG  (Reuters) - Top shareholder of HSBC renewed its call for breaking up of the Asia-focused bank, saying the lender has failed to address key business model challenges which…

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30

Mar

HSBC raises eurozone growth forecast on easing supply chain issues, inflation

March 30 (Reuters) - HSBC is expecting the eurozone economy to grow 0.6% in 2023 from its previous estimate of being flat, citing easing supply chain issues, falling wholesale energy…

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15

Mar

HSBC urges SVB UK staff to assure clients their cash, loans are safe – memo

LONDON, March 15 (Reuters) - HSBC's top bosses have called on employees at the rescued British arm of failed U.S. lender Silicon Valley Bank to assure clients "their deposits are…

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13

Mar

UPDATED: HSBC rescues British arm of stricken Silicon Valley Bank

U.S. authorities back depositors UK deal ends frantic weekend talks British finance minister: deposits safe By Iain Withers and William Schomberg LONDON, March 13 (Reuters) - HSBC bought the UK…

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21

Feb

HSBC shares slide as it fails to raise key target despite profit surge

HSBC's profit surged 92% as rising interest rates swelled net interest income, but its shares fell 2% as it failed to raise a key performance target even as Europe's largest…

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07

Feb

Geoffrey Fichte to succeed Simon Vaughan Johnson as HSBC Bank Malta CEO

HSBC Bank Malta announced that Simon Vaughan Johnson will be relinquishing his post as Chief Executive Officer and Executive Director of the bank. He will be retiring from the bank…

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12

Jan

HSBC wins appeal against $36 mln Euribor cartel fine

By Foo Yun Chee BRUSSELS, Jan 12 (Reuters) - HSBC .L has won an appeal against a decision by European antitrust regulators to fine Europe's second-largest bank 33.6 million euros…

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15

Dec

HSBC’s disgruntled shareholders launch new campaign for spinoff

By Selena Li HONG KONG, Dec 15 (Reuters) - A small group of HSBC's Hong Kong-based retail investors are seeking support to put a resolution to the bank's 2023 annual…

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14

Dec

HSBC to stop funding new oil and gas fields

By Lawrence White LONDON, Dec 14 (Reuters) - HSBC will no longer provide new lending or capital markets finance for new oil and gas fields, the British bank said on…

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04

Nov

UPDATED: HSBC top shareholder Ping An urges aggressive cost cuts, renews spin-off push

HONG KONG, Nov 4 (Reuters) - HSBC Holdings' HSBA.L largest shareholder Ping An has urged the lender to cut costs aggressively and exit sub-scale non-Asian markets as the Chinese financial…

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05

Oct

HSBC taps JP Morgan for potential Canada exit -source

TORONTO  (Reuters) - HSBC is working with JPMorgan Chase & Co as the UK lender reviews its Canada business for a potential sale, a source familiar with the matter told…

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29

Sep

HSBC to review Canary Wharf tower HQ, consider new London base

LONDON, Sept 29 (Reuters) - HSBC will undertake a review of whether to keep its global headquarters in London's Canary Wharf financial district, according to a memo sent to staff…

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09

Aug

HSBC names Patrick Boumalham new global head of wealth sales

HSBC has appointed Patrick Boumalham as its new global head of wealth sales within its markets division, effective in September, according to an internal memo seen by Reuters and confirmed by a company spokesperson. He replaces Antony Shaw, HSBC’s global head of wealth sales who was named the…

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01

Aug

HSBC to pay some UK staff 1500 pounds to combat cost of living crisis -memo

LONDON (Reuters) - HSBC will pay some of its British workforce a one-off payment of 1500 pounds ($1,830) to help deal with the cost of living crisis, according to a…

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21

Jul

HSBC confirms staff in China unit set up branch of Chinese Communist Party

LONDON, July 21 (Reuters) - HSBC Holdings Plc  said employees had formed a branch of the Chinese Communist Party (CCP) within its securities brokerage unit in the country, following media reports on Thursday. HSBC…

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12

May

HSBC launches $1 bln lending fund for female entrepreneurs

SINGAPORE, May 12 (Reuters) - HSBC Holdings said on Thursday it was launching a $1 billion lending fund to invest in female-owned businesses over the next 12 months. The fund appears to be…

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04

May

HSBC and Ping An execs plan to discuss breakup proposal

SINGAPORE, May 4 (Reuters) - HSBC  and Ping An  executives plan to meet in mid-May to discuss the Chinese insurer's proposal that the bank should explore strategic options such as spinning off its Asian…

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04

May

HSBC launches $1 billion planned share buyback

LONDON, May 4 (Reuters) - HSBC has kicked off its planned $1 billion share buyback on Wednesday, as it seeks to redeploy excess capital and reward shareholders. The London-listed global lender has appointed…

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30

Apr

HSBC’s top shareholder calls for banking giant’s break-up – source

LONDON/SINGAPORE, April 29 (Reuters) - HSBC Holdings' HSBA.L largest shareholder, Chinese insurance giant Ping An 601318.SS, has called for a break-up of the London-based bank, a source familiar with the matter said on Friday. Ping…

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26

Apr

HSBC profit falls on credit charges as economic outlook worsens

HSBC's profit fell by less than expected in the first-quarter but Europe's biggest bank warned that more share buybacks were unlikely this year as rising inflation and economic weakness had…

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06

Apr

HSBC launches metaverse portfolio for wealthy Asian clients

SINGAPORE, April 6 (Reuters) - HSBC Holdings  has launched a fund to capture investment opportunities in the metaverse for its rich clients in Hong Kong and Singapore as financial services companies tap into…

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26

Mar

HSBC steps up scrutiny of Russian clients worldwide as sanctions ratchet up

HSBC  is shunning prospective Russian clients and declining credit to some existing ones, two sources with knowledge of the matter told Reuters, as the bank seeks to shield itself from…

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14

Mar

UPDATED: HSBC sells Greek bank branch business

LONDON, March 14 (Reuters) - HSBC HSBA.L announced on Monday it has agreed to sell its branch operations in Greece to local bank Pancreta Bank, as the lender further sharpens its focus on its…

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28

Feb

HSBC orders staff to drop Russian banks VTB, VEB

LONDON, Feb 28 (Reuters) - British bank HSBC HSBA.L is beginning to wind down relations with a host of Russian banks including the second-largest, VTB, according to a memo seen by Reuters, as financial…

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22

Feb

HSBC Malta reports €26.9m profit

Reported profit before tax for the year ended 31 December 2021 was €26.9m. This represents an increase of €16.4m or 157% compared to prior year. Adjusted profit before tax of…

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01

Feb

HSBC Appoints First Head of Sustainable Finance for Europe Commercial Banking

HSBC has appointed current Ireland CEO and Head of Banking Alan Duffy as its first Head of Sustainable Finance for Europe Commercial Banking. In his new role Alan will drive…

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13

Dec

HSBC and Wells Fargo use blockchain to settle forex trades

LONDON, Dec 13 (Reuters) - HSBC and Wells Fargo have begun using a blockchain platform to settle bilateral foreign currency (FX) trades in the latest sign of how technology which…

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09

Nov

HSBC exceeds China wealth hiring targets, explores India private banking re-entry

HSBC Holdings Plc is ahead of its hiring targets for its Chinese retail wealth management business and is exploring re-entering India's private banking business, senior executives said, as part of its…

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25

Oct

HSBC surprises with 74% rise in Q3 profit, announces $2 bln buyback

HSBC Holdings reported a surprise 74% rise in third quarter profit as concerns about pandemic-related bad loan receded, allowing it to announce a share buyback of $2 billion. HSBC however…

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23

Aug

HSBC and Microsoft join forces to support the new Feeding America Workforce Development Initiative

HSBC Bank USA announced that together with Microsoft Corp. will provide grants and resources to support Feeding America®, the nation’s largest domestic hunger-relief organization. The $350,000 two-year grant from HSBC…

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19

Aug

HSBC initiates legal proceedings against El Salvador claiming breach of treaty with UK

HSBC Holdings said the banking group has initiated legal proceedings against El Salvador for what the company called a breach of the nation's investment treaty with the UK. "HSBC Latin…

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04

Aug

Malta: Melvin Theuma asked for proof he owned Mosta flat used as safe house in HSBC heist

Melvin Theuma has been asked to show proof that he owned a Mosta flat allegedly used in the 2010 HSBC bank heist as a safehouse by the criminals. Theuma, the…

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19

Jun

HSBC takes $2.3 billion hit with sale of French retail bank

HSBC has agreed to sell its French retail bank to Cerberus-backed My Money Group in a deal which will mean a loss of around $2.3 billion for the British bank…

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02

Jun

Malta: Carmelo Abela dodges resignation questions in stormy parliamentary session

Minister Carmelo Abela on Wednesday ignored questions over whether he had offered to resign, following claims linking him to a failed HSBC Bank heist 11 years ago. Abela also said…

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28

May

HSBC says U.S. remains key market, following retail exit

HSBC said on Friday the United States remains key to its growth plans, a day after announcing the sale of its mass market retail U.S. banking business in a country…

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27

May

UPDATED: HSBC says to exit U.S. retail banking to focus on Asia

HSBC announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps…

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