The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

HSBC: Quinn makes progress on redirection under China shadow

It might have the wind in its sails, but the bank will need to be nimble and smart if it is to find success in its three principle aims.

Noel Quinn took the top job at HSBC with a clear plan in mind, articulated at the full-year results announcement in February. The highlights: become a world leader in wealth management, particularly in Asia; lead the world in serving mid-market corporates globally; be the leader in cross-border banking flows aligned to trade and capital corridors; and do all of this while digitalizing, transitioning to net zero and accepting that low interest rates globally are here to stay.

These were all sensible calls, if sometimes largely indistinguishable from previous strategic announcements, and by now it is possible to make some assessments of how it is all going.

Third-quarter numbers showed a 76% jump in reported profit before tax versus the same quarter a year previously, primarily due to releases of provisions set aside for Covid-related credit deterioration that just hasn’t happened.

Noel Quinn

In Asia, there are encouraging signs: revenues are climbing and, in particular, $3.1

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?