HSBC Holdings

HSBC Holdings Plc engages in the provision of banking and financial services. It operates through the following business segments: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, Global Private Banking, and Corporate Centre. The Retail Banking and Wealth Management segment consists of retail banking, wealth management, asset management, and insurance. The Commercial Banking segment offers banking products and services. The Global Banking and Markets segment includes transaction banking, financing, advisory, capital markets, and risk management services. The Global Private Banking offers transaction banking, financing, advisory, capital markets and risk management services to high net worth individuals and families. The Corporate Centre segment is comprises of central treasury, including balance sheet management, other legacy businesses, interests in associates and joint ventures, central stewardship costs and the UK bank levy. The company was founded on January 1, 1959 and is headquartered in London, the United Kingdom.

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Founded in 1865 to finance trade between Asia and the West, today HSBC is one of the world’s largest banking and financial services organisations serving around 46 million customers. Their aim is to be acknowledged as the world’s leading and most respected international bank.

HSBC is on a hiring spree to recruit hundreds of bankers to serve rich clients in the U.K. as it seeks a larger share of the region's wealth management market.

HSBC Seeks Larger Share of UK Wealth Business, To Hire More Bankers

HSBC contemplates realigning its Commercial Banking and Global Banking and Markets divisions to trim costs and improve operating efficiency.

HSBC Mulls Over Segment Realignment as a Step Toward Cost Efficiency

Banking giant HSBC is reportedly considering a merger of its commercial and investment bank operations. The plan is part of new CEO Georges Elhedery's effort to eliminate overlapping roles across the company and reduce expenses, Bloomberg reported Monday (Sept.

HSBC Reportedly Considers Commercial-Investment Bank Merger

HSBC Holdings PLC (LSE:HSBA) is reportedly considering merging its commercial and investment banking divisions in a bid to cut costs. This would see overlapping roles axed, according to Bloomberg, in new chief executive Georges Elhedery's first major move since taking charge earlier this month.

HSBC considering internal bank merger to cut jobs and 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 on Monday, citing people familiar with the matter.

HSBC weighs commercial, investment bank merger to shed costs, Bloomberg reports

HSBC has named Jo Miyake as interim CEO of its global commercial banking business, according to an internal memo seen by Reuters on Wednesday, in the latest of a series of appointments since new group CEO Georges Elhedery took charge.

HSBC appoints Jo Miyake as interim CEO of global commercial banking -memo

Georges Elhedery, the new boss of HSBC Holdings PLC (LSE:HSBA) has stated that cost control is his big priority, as he held his first 'town hall' company meeting since taking the role.  HSBC's cost base is regularly questioned by banking analysts, who suggest it is higher than peers.

New HSBC boss puts stress on cost control in first staff meeting

HSBC Holdings PLC (LSE:HSBA) has a clear edge over Standard Chartered PLC (LSE:STAN) in the battle of the Asia-focused banks, which analysts at US bank Citi doubt can be made up. The banks have similar strategies, notes Citi, but HSBC seems better placed, with a more concentrated Asia footprint, a superior business mix, greater efficiencies and larger structural hedge.

HSBC has edge over Standard Chartered in Asia-focused stakes, says US bank

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Allegra Berman, global head of institutional sales at HSBC, is leaving the bank at the end of September, according to an internal memo seen by Reuters on Tuesday.

HSBC global sales head Allegra Berman leaving the bank, memo says

HSBC's new chief executive Georges Elhedery, who took the helm at the Europe's largest lender on Monday, said he was committed to build on the bank's current strategy, according to an internal staff memo.

HSBC new CEO Elhedery 'committed' to build on current strategy

NatWest Group plc 

UK banks are still in favour with UK bank Citi after the latest chunk of Bank of England mortgage data. Indeed, the only negative Citi can find is an uptick in the deposit-mix shift, but even here there is lower than last year it says and deposit activity overall is stable.

Natwest and HSBC stand out in good UK bank sector, says Citi

HSBC's incoming CEO plans to trim middle management jobs to streamline operations,, improve efficiency and reduce costs.

HSBC's Next CEO Plans to Trim Middle Management to Save Costs

HSBC Holdings PLC (LSE:HSBA) has confirmed changes to its senior and middle management as new chief executive Georges Elhedery takes over Elhedery replaces Noel Quinn on 2 September and, ahead of that, HSBC has shuffled several people in his management team. Barry O'Byrne, currently global commercial banking chief is to become chief of global wealth and personal banking with Nuno Matos stepping down for another role in the group.

HSBC shakes-up senior managers ahead of new boss starting

HSBC's CEO of Wealth and Personal Banking, Nuno Matos, is resigning to pursue other opportunities, the Asia-focused bank said on Thursday as it unveiled a significant shake-up in its leadership team on the eve of Georges Elhedery starting as CEO.

HSBC wealth CEO Matos steps down as bank unveils major executive shake-up

Royal Bank of Canada (TSX:RY) surpassed analysts' expectations for its fiscal third-quarter profit, reporting earnings of $3.26 per share, above the forecasted $2.97. The strong performance was driven by a 17% rise in earnings from its personal and commercial banking segment, totaling C$2.49 billion, bolstered by the recent acquisition of HSBC's Canadian assets.

RBC exceeds Q3 expectations, fueled by HSBC acquisition

HSBC Holdings PLC's (LSE:HSBA) new chief executive Georges Elhedery mulling a cull of middle management, according to a report. Under threat are several heads of country plus executives that report to Elhedery, Bloomberg reported.

HSBC's new boss eyeing middle management cull - report

HSBC (LON: HSBA) share price continued its slow recovery this week as investors focused on the upcoming management changes at the biggest bank in Europe. The stock jumped to a high of 665p on Tuesday, its highest point since August 1.

HSBC share price: 7% dividend yield and new CEO are catalysts

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Goldman Sachs

Goldman, HSBC, BASF and ICBC Standard Bank agreed to pay $20 million to settle the long-standing platinum price-fixing antitrust lawsuit.

Goldman Sachs, HSBC & Others to Pay $20M Over Metal Trading Probe

BASF SE

Goldman Sachs , German industrial company BASF and two other banks agreed to pay $20 million to settle a nearly decade-old antitrust lawsuit accusing them of conspiring to suppress platinum and palladium prices.

Goldman, BASF, others in $20 million platinum, palladium price-fixing settlement

HSBC India enters a bancassurance partnership with Bajaj Allianz to offer the latter's insurance products and services to its customers in India.

HSBC India Forms Bancassurance Partnership With Bajaj Allianz

HSBC aims to double the assets under management in its British wealth business to 100 billion pounds ($131 billion) in the next five years, the division's head told Reuters, joining rivals in targeting more fee income from the UK's 'mass affluent'.

HSBC looks to double UK wealth business as banks target 'mass affluent'

To align with its Asia-focus strategy, HSBC is mulling to divest its businesses in South Africa. This is likely to allow the company to expand in high-growth markets.

HSBC Explores South Africa Exit Under Asia Pivot Strategy

HSBC Holdings PLC (LSE:HSBA) has cut mortgage rates to the lowest level among big bank rivals, prompting speculation for a fall in typical interest to around 3.5% by the year-end. Premier account holders at the lender can now access five-year fixes at 3.81% following HSBC's latest cut, which comes after a string of reductions among rivals.

News for HSBC Holdings Stock (HSBC)