The bank delivered some ugly surprises, and bad headlines continue to plague the UK and China, two of its most important markets. ( read original story ...)
HSBC ditches its cost-cut tsar before job is done
HSBC , boss Noel Quinn is getting rid of a cost-cutting finance chief, Ewen Stevenson, while his skills are still in need. To avoid spooking investors, new broom Georges Elhedery will have to wield ... ( read original story ...)
HSBC’s third-quarter profit beats expectations as Hong Kong and UK, its two biggest markets, face economic pressure
Net profit fell to US$1.9 billion, compared with US$3.5 billion in last year's third quarter; better than analysts' expectations Ewen Stevenson to step down as chief financial officer at end of the ... ( read original story ...)
HSBC appoints Georges Elhedery as CFO, potential CEO-in-waiting
The change came as HSBC reported profits slid 42% in the third quarter, hit by rising loan losses as well as charges from the sale of its French business. ( read original story ...)
FTSE 100 closes near flat as new PM Sunak restores calm to market
Spread betting companies are calling London’s blue chip index up by around 11 points but shares in HSBC have fallen around 2.6% in Hong ... ( read original story ...)
HSBC’s Q3 Earnings Reviewed; We Remain Cautious
HSBC's Q3 earnings report revealed robust core operational results, despite 2022's bear market. See why we assign a significant risk premium to the stock. ( read original story ...)
2 men in Hong Kong arrested over laundering HK$3.5 billion after withdrawal of 8.4 tonnes of precious metal from security vault
Authorities say huge amount of money handled through suspects' bank accounts incommensurate with their backgrounds and financial status Officials investigating if the haul of precious metal, mostly ... ( read original story ...)
Hong Kong – 2022 Global Bank Review – Banking On People.
We are excited to announce the launch of the 2022 Global Bank Review: Banking on People. Surveying the current landscape of the financial sector in late 2022, it is hard to avoid the sense of an ... ( read original story ...)
Old Boys’ Club at Hong Kong Banking Summit Puts Women on Sidelines
As pandemic restrictions lift, indoor performances and dancing are back in Hong Kong. So is the finance world’s old boys club.Most Read from BloombergAdidas Cuts Ties With Ye, Absorbing €250 Million ... ( read original story ...)
China syndrome is a constant worry for HSBC
What HSBC boss Noel Quinn sees as opportunities are, for others, good reasons not to invest in his sprawling bank. It’s what comes with running an amorphous political football with a near-$3 trillion ... ( read original story ...)
Hong Kong stock market volatile but operations running smoothly, city leader John Lee says as shares bounce back
Chief executive speaking a day after the worst sell-off in stocks locally since the 2008 global financial crisis John Lee says he has a 'strong response plan' up his sleeve to counter different sorts ... ( read original story ...)
Analysis: HSBC’s direction in question after Elhedery’s sprint to CEO contender
Georges Elhedery's appointment as HSBC's chief financial officer caps a journey that's taken him from war-torn Lebanon to frontrunner for the top job at Europe's biggest bank. It’s also surprised ... ( read original story ...)
HSBC Makes Surprise Succession Move As Forecasts Hit Shares
HSBC named Georges Elhedery as its new chief financial officer on Tuesday in a surprise move that puts the former head of its investment bank in pole position to eventually succeed Noel Quinn as CEO. ( read original story ...)
Hong Kong Internet Stocks Bounce As Alibaba’s Singles Day Kicks Off
Hong Kong did better than a quick glance would reveal as the Hang Seng Index declined -0.1% while the Hang Seng Tech gained +2.96% led higher by internet stocks. Hong Kong’s most heavily traded by ... ( read original story ...)