{
}
HSBC and UBS are intensifying their presence in India's wealth management sector, spurred by a surge in IPOs that has generated a new wave of millionaires. UBS is in advanced talks to acquire 360 ONE, a firm managing over $26 billion in assets, while HSBC aims to double its operations in the country. Last year, India experienced a record 42 IPOs, injecting $58 billion into the market and attracting global financial institutions to the region.
HSBC Holdings and UBS are reportedly expanding their wealth management businesses in India, reflecting a growing interest in the country's financial market. This move highlights the increasing competition among global financial institutions to capture affluent clients in the region.
HSBC and UBS are expanding their wealth management operations in India, driven by a surge in new millionaires following recent IPOs. UBS is reportedly interested in acquiring the Indian firm 360 ONE, while HSBC plans to double its branch presence in the country. Yatin Shah, co-founder of 360 ONE, noted that many reputable firms view India as a promising market for the next couple of decades.
BofA Securities has reiterated its "Buy" rating for HSBC Holdings (00005.HK), citing the bank's potential to achieve a return on tangible equity of approximately 15% annually from 2025 to 2027. Despite the current share price trading at about 1.2x the FY2025 projected PB ratio, the firm sees upside potential with a target price set at GBX1,035.
The HSI index rose by 316 points at midday, with HSBC Holdings and AIA both increasing by 3%. The information provided is for reference only and does not constitute investment advice, with no guarantees on accuracy or future performance. Users are advised to consult professional financial advisers before making investment decisions.
HSBC Holdings saw a bearish block trade of 106.4K shares at $86.85, resulting in a turnover of $9.241 million. Brokers anticipate a 5%+ year-over-year rise in HSBC's 2024 EBIT, with a focus on dividends, share buybacks, and business restructuring guidance. Meanwhile, the HSI rose over 400 points, surpassing the 23,000 level, while Xiaomi-W reached a new peak, and HSBC gained approximately 2% ahead of its results.
Brokers anticipate a 5%+ year-over-year rise in HSBC Holdings' EBIT for 2024, with a focus on dividends, share buybacks, and business restructuring guidance. The Hang Seng Index has surged over 400 points, surpassing the 23,000 level, while HSBC shares gained approximately 2% ahead of results. Shareholders are reportedly supportive of the group's exit from certain investment banking operations in the Americas and Europe.
The Hang Seng Index (HSI) surged 464 points, or 2.1%, closing at 23,080, while the Hang Seng Tech Index (HSTI) rose 167 points, or 3.0%, to 5,666. Notable gainers included Alibaba, Meituan, and Tencent, each up over 3%, with several companies like CCB, Xiaomi, and HSBC Holdings reaching new highs.
HSBC is set to lay off nearly 40 investment bankers in Hong Kong, including four managing directors, as part of a global restructuring under CEO Georges Elhedery. The cuts span various sectors, including equity capital markets and mergers and acquisitions, as the bank aims to save between $2.5 billion and $3.5 billion by potentially eliminating up to 22,000 positions worldwide. This move follows HSBC's decision to exit merger advisory and equity capital market operations in the UK, Europe, and the Americas, focusing instead on core growth areas in Asia.
HSBC Holdings has reportedly dismissed around 40 investment bankers in Hong Kong as part of its restructuring efforts. Brokers anticipate a 5%+ year-over-year rise in the bank's 2024 EBIT, with a focus on dividends, share buybacks, and business restructuring. Shareholders are backing the group's exit from certain investment banking operations in the Americas and Europe.
HSBC HOLDINGS
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
hsbc and ubs boost wealth management in india amid ipo surge
07:51 17.03.2025
hsbc and ubs expand wealth management business in india
07:40 17.03.2025
hsbc and ubs expand wealth management operations in india
07:34 17.03.2025
BofA Securities maintains buy rating on HSBC Holdings with growth potential
05:57 17.03.2025
HSI rises midday with notable gains in HSBC and AIA stocks
05:23 17.03.2025
HSBC Holdings sees bearish trade amid positive earnings outlook and market gains
10:30 18.02.2025
HSBC Holdings anticipates 5 percent EBIT growth amid strategic business changes
07:55 18.02.2025
Asian markets surge with significant gains in major stocks
05:12 18.02.2025
hsbc to cut 40 investment banking roles in hong kong restructuring
United States Dollar
HSBC HOLDINGS
HKG
USA
GBR
Luying Gan
Heidi Chan
Viet Phan
Konidela Venkat Rao
Show more
03:52 18.02.2025
HSBC dismisses bankers as focus shifts to restructuring and shareholder returns
03:44 18.02.2025
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
CEO Changes
Retail and Consumer Goods
Central Bank Actions
GDP Growth & Recession Forecasts
Global Trade Developments
Industry Mergers & Acquisitions
Financial Scams and Security
Inflation and Monetary Impact
Market Analysis and Predictions
Government Policies
Government Economic Policies
Supply Chain Management
Startups & Entrepreneurship
Workplace Trends
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Barclays PLC
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Deutsche Bank Money Market PP
Morgan Stanley
Huawei Technologies CO. Ltd.
Lloyds Banking Group plc
Microsoft Corporation
Credit Suisse Strategic Income I
NVIDIA Corporation
Amazon.com, Inc.
AXA SA
Safran SA
Banco Santander, S.A.
Novartis AG
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Russian Ruble
Australian Dollar
Canadian Dollar
United Arab Emirates Dirham
Indonesian Rupiah
Saudi Riyal
South Korean Won
Danish Krone
Offshore Chinese Yuan
Turkish Lira
Hong Kong Dollar
Mexican Peso
Malaysian Ringgit
People: