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LATEST ARTICLES
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Restructuring HSBC, like painting the Forth bridge, is a never-ending job. While Noel Quinn has done well, the board must not make another ham-fisted transition.
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In a region where most private-sector commercial activity is undertaken by family businesses, succession planning and wealth transfer could not be more important.
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While the wealthy have excelled in accumulating and managing their assets, many still struggle with the complexities of passing them on. The urgency of succession planning was underscored by an HSBC Trustee survey in 2023, which found that 85% of global families are actively preparing successors for their business empires. This aligns with forecasts that about $18.3 trillion will change hands among high net-worth families by 2030.
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Reports that the long-rumoured deal has been agreed suggest growing optimism among Argentine bankers about the new administration.
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Some banks like the idea of external venture capitalists leading their venture businesses, but banker-led units are more likely to cement their inherent advantage.
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Citi’s sale of its China consumer wealth portfolio to HSBC for $3.6 billion is a nuanced tale of two banks with increasingly different strategies. As HSBC tilts ever more toward Asia, Citi proves ever more inclined to see all financial services through a global prism.
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While banks have accelerated digital solutions across business lines, accomplishing end-to-end digitalization of global trade remains far beyond their reach. The complexity of supply-chain finance remains a challenge, and banks continue to hunt for scalable solutions. Embedded finance could be the answer.
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As other investment banks cut staff, HSBC has been hiring to build a leading bank in tech and healthcare.
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Despite its roots in the region, HSBC’s Asian woes have sometimes seemed endemic. It has been overly dependent on Hong Kong and too often caught in Sino-US crosshairs. But under regional co-CEOs Surendra Rosha and David Liao, the lender has regained its confidence, is more regionally diverse than ever, and is busy posting record profits.
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HSBC remained formidable in the Hong Kong market over the past year and is now well positioned to reap the benefits of mainland China and Hong Kong’s post-Covid reopening.
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It is not much fun being a banker in Argentina. But while it is pretty much universally tough for everyone, spare a thought for individuals like Juan Parma, HSBC’s chief executive Argentina and head of wealth and personal banking America. Because, while Parma’s peers in Argentine banks face many of the same challenges he does, at least for them the whole organization is still focused on the country. HSBC’s global leadership could be forgiven for skipping over the country in global strategy meetings.
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Football clubs undergoing a period of transition often talk of needing a transfer window or two to get where they need to be. More often than not, this doesn’t work. Better-run teams continue to make clear-minded decisions that keep them ahead of the pack. Catching up is always hard to do.
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It is no surprise that HSBC is Asia’s best bank for sustainable finance for the sixth year in a row. Across its commercial, retail, global banking, markets and securities, capital markets, trade finance and risk management teams, the lender has created an extensive sustainability knowledge base that few of its rivals can match.
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Public-sector receptivity to innovation in sustainability and tokenization helped HSBC show the markets a glimpse of the future of bonds.
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HSBC continues to lead from the front as trade finance reinvents itself.
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HSBC wins the award for the Middle East’s best bank for financing this year. During the awards period the bank topped the equity capital markets league tables, completing 12 deals – more than any other financial institution – worth just over $4 billion, according to Dealogic.
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All big banks say they are leaders in transaction services, few really are. HSBC is always in contention for this award and takes the honours after a year full of new services and innovation.
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For cross-border transactions, supply-side financing and capital markets, HSBC Amanah, led by chief executive Raja Amir Shah Raja Azwa, was the international Islamic bank to beat this year.
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The chair of Ping An Asset Management has called again for the break-up of HSBC and spin off of its Asia assets. His argument is a strong and valid one; his problem is that none of the bank’s other main shareholders seems to care.
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No matter what competitors do, contending with a 158-year-old banking major with a presence in 64 economies and a wealth balance the size of Australia’s gross domestic product is going to be hard. Especially if it has a knack for reinvention.
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HSBC is named best digital private bank this year, in part thanks to the sheer scale of its user base and the ubiquity of its app, but also because of the firm’s constant reinvention.
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No international lender is better at serving privately wealthy China clients wherever they are in the world than HSBC.
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HSBC’s global head of trade finance talks about how the bank has built 'the trade finance platform for the future'.
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HSBC runs towards the storm as others are fleeing it.
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Patents are a high-profile demonstration of a bank’s commitment to innovation, but they are not the only option for those looking to encourage new ways of thinking.
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Restrictions on upstream oil and gas financing aren’t the silver bullet that the sector needs to achieve its climate goals.
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New platform acts as central account keeper under Luxembourg law for first ever sterling bond deal on blockchain.
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The bank is focusing on organic growth by acquiring retail clients and launching a private bank.
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HSBC’s outgoing CFO, Ewen Stevenson, has mounted a robust case for the bank’s cost performance in an intriguing call with analysts that also featured an appearance by his replacement, Georges Elhedery. As he prepares to leave the bank, Stevenson defended his legacy by taking on the firm’s arch-critic, Ping An.
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Both HSBC and JPMorgan have recently boosted their digital trade finance offerings, as the ICC Centre for Digital Trade and Innovation commenced testing of digital trade systems between Singapore and the UK.
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Georges Elhedery’s move to the CFO role at HSBC has raised eyebrows among observers seeking to decode it. What does it mean for Elhedery, what happened to incumbent Ewen Stevenson, and what does it say about CEO Noel Quinn?
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A new platform aims to help get troublesome sustainable infrastructure projects financed. Its chief executive explains to Euromoney the ambitions and challenges ahead.
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The failures of we.trade and HSBC’s Serai highlight the challenges that blockchain-based solutions face.
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HSBC’s interim result shows that banks are drawing a line under pandemic-related provisions, while simultaneously setting aside new ones for the disease’s economic cure. All banks must make this transition, but HSBC has other things to worry about besides: a campaign from China’s Ping An to split the bank in half.
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HSBC has dominated the environmental, social and governance (ESG) space for many years, and nowhere is that more evident than in the Middle East. There are many reasons why it deserves to be named the region’s best bank for sustainable finance.
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Last year was one that saw HSBC in its best light in this region. The Middle East is not always an easy place in which to run a full-service investment bank. Some years are stellar; in others the well runs dry. But with energy prices up and governments committed to economic and financial diversification, there has never been a better time to be in the UK lender’s shoes.
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HSBC approaches sustainable finance on a different canvas to everyone else. All houses can highlight great environmental, social and governance deals by now, but HSBC doesn’t just want to tell you about a green bond or a sustainability financing. It wants to talk about shaping policy with assistance to governments and regulators; about how sustainable finance goes all the way through its banking offering to trade finance and cash management, to sustainability-linked interest rate swaps and recycled PVC credit cards.
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HSBC has long dominated global trade finance but has also been at the forefront of digital innovation this year.
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The first three months of the year have been tough for many investment banking business lines, but Europe’s banks are putting up a good fight against the might of the US firms.
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The UK bank’s new fund aims to deliver metaverse-themed investment opportunities to wealthy clients in Hong Kong and Singapore.
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The rates sell-off is making it more expensive for high-yield and high-grade borrowers to access the bond markets. Maturities on offer are shortening, and it could be about to get much worse.
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HSBC’s head of global private banking in China, Jackie Mau, explains the lender’s onshore ambitions, the future of Wealth Connect, plans for new offices and how and why China differs from other private wealth markets.
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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.
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More financial institutions are moving into the banking-as-a-service market to tap into demand from corporates looking to offer multiple payment options and enhance customer loyalty.
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Last week, four global banks unveiled cross-border wealth management services under the banner of Wealth Connect, but with the crisis at Evergrande unresolved and growth slipping, the scheme comes at a tricky moment.
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Many initiatives have promised to crowd in private capital through the catalytic effect of their own seed investment. Will this one work?
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Societe Generale’s decision to launch a joint treasury management solution with Kyriba is just the latest example of banks and technology vendors collaborating to offer more sophisticated treasury functionality.
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As FX traders ponder how the recent increase in coronavirus cases might affect the global economy, it appears they are spending even more time trying to second guess central bank thinking.
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Court documents relating to fraud charges against a young and flamboyant Singapore trader show that most of the country’s banks have had a relationship with him.
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Transaction services was affected by the pandemic in two significant ways. One was on the cash management side, where there was a forced acceleration of digital initiatives and of their take-up by corporate clients. That was interesting, but by and large it was happening anyway.
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It was yet another impressive year for HSBC in sustainable finance. At a global level the bank is committed to net-zero on carbon emissions. At a regional level it has a team of 39 staff, led by its head of sustainability, Europe and the Middle East, Sabrin Rahman. They engage with clients on ESG, sustainable finance and transition strategies.
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HSBC retains the award for best bank for transaction services for the third straight year thanks to its ability to adapt to the pandemic and the rapidly changing needs of regulators and its customers. In the Middle East that means being there when it matters. The bank processed $552 billion in payments and $54 billion in trade for 15,000-plus clients last year.
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Despite strong showings from peers including BNP Paribas and Citi, HSBC’s strength in sustainable finance is deep rooted and hard to match. Jonathan Drew’s team lifts this award for the fourth consecutive year.
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HSBC, with big operations in the UK and France as well as a presence on the ground in 20 markets across Europe, wins the award for the region’s best bank for small and medium-sized enterprises this year, against strong challenges from UniCredit and Santander.
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When Stephen Williams joined HSBC more than 20 years ago, the bank was a backmarker in Asian debt markets. When he retires next month, he leaves it top of the heap.
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HSBC’s new global wallet offering is the latest in a line of services enabling businesses to make and receive international payments from a single account.
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With the acquisition of 80 east coast branches and a slug of online deposits, Citizens has added even more firepower to its national expansion ambitions.
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The leading FX banks have introduced notable enhancements to their electronic trading platforms in recent months in an attempt to make them more attractive to traders that are still working away from their offices.
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Less charismatic chief executives will serve Europe’s banks well in the 2020s – unless it simply means that more power will reside with their chairmen.
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Euromoney’s 2021 trade finance survey reflects an unprecedented year for the industry.
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It has the backing of Prince Charles, as well as several big names in banking – but will the Financial Services Taskforce contribute anything new to the fight against climate change?
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Asset managers and owners are scrutinizing firms’ climate commitments like never before, as HSBC is discovering.
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UK bank urged to set timeline for fossil-fuel financing phase-out.
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Wong’s departure from HSBC, where she was head of Greater China, in August 2019 raised the questions of where could she be going and why. The answer is that she will succeed Samuel Tsien as OCBC’s chief executive. What does it mean for the bank?
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Every bank has had to balance Covid and geopolitics in 2020, but few have had it harder than HSBC
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The digital dividend dominated the cash management market in 2020. Corporates responded well to those banks that digitalized the services they needed to stay afloat in the choppy waters of a global pandemic.
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Investors and analysts had expected an insider to succeed António Horta-Osório, but new CEO Charlie Nunn could still be a continuity candidate when he is allowed to take his post.
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Euromoney’s futurologist Mystic Maca gets on a Zoom call with next year, when markets return to a version of normality.
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Across every sector and region HSBC stands out for its commitment to developing partnerships and products that will bring finance at scale to create a more sustainable and resilient planet.
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Covid-19 has not simply accelerated the push to digital but has also changed the nature of transaction banking itself.
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The new chief executive of HSBC had announced a big cost-cutting programme just before Covid hit. He was smart enough to pause it and encourage local staff around the world, even in locations where the redundancies were set to fall, to back their customers with quick loan decisions. Noel Quinn discusses the bank’s impressive response.
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Analysts hope HSBC will announce a more radical strategy shift when the bank posts half-year results on Monday. Executives at a bank caught between an irascible Chinese public and quarrelsome US politicians, might simply wish for better days ahead.
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Private sector digital adoption is surging because of the pandemic. The resultant efficiencies will partially offset pressure on profitability at the bank.
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There is fierce competition in sustainable finance in Western Europe, but this year one bank stands out for its commitment across all the sectors and countries in which it operates and for its work on ensuring the needs of both environment and society are addressed.
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Year after year, HSBC quietly gets on with the key business of delivering crucial funding to clients whether they are looking to refinance debt, acquire an asset or rival, or just bulk up their balance sheet in the face of a once-in-a-century global pandemic.
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The list of deals from 2019 and 2020 – green bonds, social bonds, sustainability bonds and ESG-linked loans – goes on and on for HSBC in Asia under Jonathan Drew, managing director, sustainable finance.
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HSBC retains its title as the Middle East’s best bank for transaction services for the second year running by stepping up to the challenge of helping customers trade and transact at a time of closed borders and supply-chain disruption.
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Crédit Agricole takes the lead in Western Europe in this year's Euromoney Awards for Excellence.
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HSBC has been central to maintaining imports of vital goods into the region, even while national borders slammed shut.
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In a transformative year for capital markets in the Middle East, HSBC stands out as the region’s best investment bank, reclaiming the title it last won in 2017.
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The Middle East is a hard market in which to be truly sustainable, given the vast amount of money in the region that is tied to oil now and will be for some time.
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The London-headquartered lender has its roots and its future in Asia, and from the outset it was keen to provide staunch support to its customers across the region. It has been everywhere throughout the Covid-19 crisis, playing, in the words of chief executive Noel Quinn, a “massive role” in supporting communities and helping restore economic growth.
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DBS reaffirms its best bank status in the region in this year’s Euromoney Awards for Excellence.
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Saudi Arabia’s Al-Rajhi is named the region's best bank in this year’s Euromoney Awards for Excellence.
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Supply chain disruption will create new challenges for transaction bankers and may lead to long-term changes in global trade patterns.
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HSBC’s strategy shift will see it deploy more capital, assets and risk to the region. The challenge is the same one it faced a decade ago: how to do more in China and southeast Asia. But the truth is that the bank is not as strong beyond Hong Kong as it should be
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Freshly empowered European bank chairmen are making perplexing lurches as they search for new chief executives. A random CEO generator might help.
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The interim chief executive unveils a radical three-year restructuring plan that makes abundant strategic sense but carries plenty of execution risk.
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HSBC launched its green deposit account in the first week of February with a deposit from a building materials company.