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 Holdings PLC  has sent home more than 100 staff in London after a worker tested positive for the coronavirus, the first known case at a major company in Europe's main financial hub.

HSBC sends home 100 London staff, confirms China coronavirus case

Banking giant HSBC Holdings PLC HSBC, -1.50% HSBA, -1.13% has evacuated part of its Canary Wharf London offices

HSBC clears part of Canary Wharf offices after coronavirus confirmation: Financial News

Unicredit Spa  Chief Executive Officer Jean-Pierre Mustier has emerged as one of the main external candidates for the top job at HSBC Holdings Plc , Bloomberg reported on Thursday, citing sources familiar with the matter.

Unicredit boss Mustier emerges as contender for HSBC CEO role: Bloomberg

HSBC (NYSE: HSBC), Europe's largest bank in terms of assets, revealed a major reorganization decision that would decrease the total number of staff from 235,000 to around 200,000 in the next three years.

HSBC Remains EU's Largest When It Comes to Assets But Will Get Smaller By 35,000 Jobs

HSBC  plans to invest heavily in its newly combined retail and private banking business as it targets internationally minded customers in markets such as China, the United States and Singapore, the unit's Chief Executive Charlie Nunn told Reuters.

HSBC targets the globally mobile with $1.4 trillion wealth business

Noel Quinn, the interim chief executive of HSBC , says this time things are going to be different.

This revamp will be different, says HSBC boss; staff not so sure

U.S. prosecutors overlooked apparent violations of U.S. sanctions against Iran by HSBC Holdings  in exchange for the British bank's cooperation with a government investigation of Huawei Technologies, lawyers for the Chinese telecoms giant said.

Huawei accuses U.S. of overlooking HSBC misconduct to go after Chinese firm

HSBC Holdings plc (HSBC) CEO Noel Quinn on Q4 2019 Results - Earnings Call Transcript

The bank intends to cut back in Europe and North America while investing in Asia and the Middle East.

Europe's Largest Bank Plans Massive Job Cuts, Will Shed $100 Billion in Assets in a Sweeping Overhaul

Plummeting profits, unstable markets, and Brexit are just a few of the factors that have precipitated the downward spiral at HSBC.  
HSBC announced job cuts of 35,000 this morning, out of its 235,000 employees across 50 countries.

What went wrong at HSBC?

HSBC expects to shoulder about $6 billion in restructuring costs, largely this year and next.

HSBC to cut 35,000 jobs in massive restructuring as profits sink

HSBC could be forced to take $600 million in additional provisions against loan losses if the Coronavirus outbreak persists into the second half of this year, Chief Financial Officer Ewan Stevenson said on Tuesday.

HSBC eyes $600 million in losses if Coronavirus persists

HSBC witnesses rise in expenses and revenues in the fourth quarter of 2019.

HSBC Stock Declines on Q4 Pre-Tax Loss, Restructuring Update

HSBC, (Hong Kong and Shanghai Banking Corporation) which is, for now, Europe’s largest bank said its pre-tax full-year profit for 2019 collapsed by 33% due to $7.3 billion in write-offs.

HSBC To Scale Back In Europe As Profit Falls By A Third

Europe’s biggest bank announced its profits fell by a third, with interim CEO Noel Quinn announcing plans to cut tens of thousands of jobs.

HSBC To Cut 35,000 Jobs In Huge Overhaul

HSBC Holdings Plc (NYSE: HSBC) reported pre-tax earnings that missed analysts’ expectations on Tuesday.

HSBC To Restructure, Close Jobs And Offices After Missing Earnings Expectations

Bank warns of ‘meaningful’ job losses in UK and of impact of coronavirus outbreak in Asia

HSBC to cut 35,000 jobs worldwide as profits plunge

HSBC on Tuesday announced plans to cut costs and overhaul its business worldwide after reporting a 33% profit plunge in 2019.

HSBC unveils an overhaul of its global business as profits drop 33%

HSBC Holdings PLC  on Tuesday unveiled plans to cut $100 billion in assets, slash its investment bank and restructure in the United States and Europe, as it launched its biggest overhaul in years in a bid to improve returns.

HSBC sets new cost cutting, earnings targets after 2019 profit falls 33%

HSBC Holdings PLC  on Tuesday posted a fall of 33% in annual profit, lagging analyst estimates, mainly due to a goodwill impairment of $7.3 billion related to its investment banking and commercial banking businesses in Europe.

HSBC 2019 profit falls 33%, misses estimates

HSBC, headquartered in London, is scheduled to report full-year 2019 earnings on Tuesday.

Europe's largest bank will report its earnings today. Here's what to expect

HSBC on Tuesday reports 2019 results and will set out its new strategy, where interim Chief Executive Noel Quinn will audition for the permanent role by announcing major restructuring efforts. Here are five key things to look out for:

Five things to look out for in HSBC's new strategy

HSBC Holdings  is considering a potential merger of two of its biggest divisions, as well as the creation of a "bad bank" to house billions of dollars of unwanted assets and businesses, MarketWatch sister publication Financial News reported, citing unnamed people familiar with the situation. HSBC declined to comment to the outlet.

HSBC may merge divisions and create a $250 billion 'bad bank': report

Credit Suisse upgraded its view on HSBC to outperform from neutral as started coverage on other U.K. banks.

Credit Suisse upgrades HSBC as it starts coverage on other U.K. banks

HSBC's new strategy overhaul is expected to include job cuts and reduce the banks' presence in some smaller markets.

News for HSBC Holdings Stock (HSBC)