Hsbc Holdings Stock News

HSBC Set To Double Bonuses For Junior Bankers To Staunch Defections HSBC looks like it is the latest bank to ramp up pay for its junior bankers, following a trend of aggressively trying to retain talent that has been taking Wall Street by storm over the last 2 years. The bank is reportedly planning on doubling bonuses for some of its junior investment bankers and traders, Bloomberg reported on Monday. It''ll be a change for the bank, which paid "less than most rivals a year ago after cutting the bonus pool at its global banking and markets division by 15%," the report said. “We’ve got to keep pay across the board competitive,” Greg Guyett, co-head of GBM for HSBC said last month. And the competition in the space is real, with investment banks jostling back-and-forth to stay competitive with pay and retain talent for several years now. But HSBC Chief Executive Officer Noel Quinn previously had to tell his staff that the effects of Covid had prevented the bank from increasing performance bonuses over the last year, largely due to underperformance by the bank on a broad scale.

U.K. regulators have told HSBC Holdings Plc to review how it reports credit risk, starting a process that industry experts say can sometimes lead to large-scale and costly internal reforms.

86% Of White-Collar Workers Want Permanent Hybrid Workweek Or They Will Quit As the world gets closer to the eventual end of the virus pandemic, more than ever, white-collar workers worldwide are working remotely and want to keep that arrangement with employers. Bloomberg reports a new poll from Advanced Workplace Associates (AWA) surveyed 10,000 white-collar workers worldwide in finance, technology, and energy who have said they will quit if employers force them back into the office for an entire workweek. To comprise, 86% of respondents said they would favor a hybrid workweek of at least two at home and the rest in the office. Respondents of all ages wanted to work at home on Mondays and Fridays and come in on Tuesdays, Wednesdays, and Thursdays. "Employers have to realize that the genie is out of the bottle," Andrew Mawson, managing director of AWA, said in a statement. "Workers have seen that flexibility can work and bosses who are not sensitive to their employees'' needs will suffer accordingly." Megabanks, like Citigroup Inc., HSBC Holdings Plc, and NatWest Group Plc, have all adopted hybrid workweeks.

HSBC has named a new chief executive for Hong Kong, promoting an internal candidate to the top role for the city. Luanne Lim has been appointed Hong Kong CEO at HSBC, according to a statement, effective yesterday. Lim has more than 25 years of banking experience, including as HSBC’s Hong Kong chief operating officer (COO) since 2017. Previously, she also worked at Bank of Singapore in various leadership roles focused on Asia markets including Hong Kong, mainland China, Indonesia Malaysia, Singapore and Vietnam. Interim CEO Lim was named interim CEO in mid-2021 to replace Diana Cesar , who was appointed as the successor to Hang Seng CEO Louisa Cheng , who was on a health leave before unfortunately passing away in October. «[Lim] was the standout candidate for this role,» said HSBC APAC co-CEO David Liao . «Over the last six months, she has demonstrated a combination of natural leadership with a deep understanding of both the industry and how HSBC’s global aspirations fit within it.»

European banks led by HSBC, Barclays, and BNP Paribas continue to provide financing for oil and gas exploration despite government efforts to reduce economies reliance on fossil fuels, a report by a nonprofit investment organization has said. Climate scenarios such as the IEAs Net Zero Emissions pathway show that there is no room for investment in new oil & gas fields if the world is to limit warming to 1.5C, the report, by ShareAction, said. Yet 25 European banks, all committed to Net Zero goals, provided $55

In an effort to reduce costs from its struggling Swiss private bank, HSBC (HSBC) on Monday cut 110 staff in Switzerland and is scaling down its office space in Geneva, the Financial

Some junior staff in HSBC’s investment banking and trading division could see their bonuses jump sharply – as much as double – for the 2021 financial year as the lender seeks to retain talent in an increasingly competitive market, according to a person familiar with the matter.Senior bankers also could see bonus increases of at least 10 per cent as Hong Kong’s biggest currency-issuing bank tries to keep up with Wall Street rivals, the person said.HSBC declined to comment on the bonus payments…

AXA has completed the sale of AXA Singapore to HSBC for a reported $529m. The amount being paid is less than was reported here in August, when Reinsurance News wrote that the sale was slated to be for $575m. That followed reports in January that HSBC Holdings was among the shortlisted bidders for AXA’s Singapore operations. […] The post HSBC completes AXA Singapore purchase appeared first on ReinsuranceNe.ws .

Many banks are geared up for flexible working after two years of Covid lockdowns, with the likes of Citigroup Inc., HSBC Holdings Plc and NatWest Group Plc allowing hybrid working for many staff

News, analysis and comment from the Financial Times, the worlds leading global business publication

HSBC has completed its purchase of Singapore-based Axa Insurance Pte Ltd for $US529 million

ShareAction is calling on investors to use their shareholder rights to demand that banks implement policies to restrict oil and gas expansion. in the upcoming AGM season

HSBC, Standard Chartered and Bank of China (Hong Kong), the city’s three note-issuing lenders, are among 16 major banks closing a total of 276 branches because of the fifth wave of Covid-19 infections.

One in every four bank branches in Hong Kong, which has the world’s highest concentration of banks, is shutting down after several of the city’s lenders reported Covid-19 infections among employees.HSBC, Standard Chartered and Bank of China (Hong Kong) (BOCHK), the city’s three note-issuing lenders, are among 16 major banks closing a total of 276 branches because of the fifth wave of Covid-19 infections. The closures, which either started last week or will kick-off on Monday, represent about 25…

AXA announced it has completed the sale of its Singapore operations to HSBC for US$529 million. HSBC Insurance (Asia Pacific) Holdings Ltd., an indirect wholly-owned subsidiary of HSBC Holdings plc, completed the acquisition of 100% of the issued share capital