{
}
HSBC Holdings repurchased a total of 3.4207 million shares on March 31, with 1.8427 million shares bought in the UK at a weighted average price of GBP8.714, and 1.578 million shares in Hong Kong at an average price of HKD88.6431. The repurchase reflects the company's ongoing strategy to enhance shareholder value.
HSBC Holdings plans a reorganization aimed at saving $11.7 billion annually to enhance its wealth management business. CEO Georges Elhedery stated that restructuring decisions will be finalized in the first half of 2025, with implementation expected within 12 to 18 months, and results anticipated by the end of 2026. The focus will shift towards expanding market share, particularly in growth markets like mainland China and Hong Kong.
China’s President Xi Jinping urged multinational CEOs to safeguard global trade and supply chains amid rising US tariffs, emphasizing the need for cooperation to stabilize the economy. The meeting, attended by around 40 executives, highlighted concerns over tightening regulations and foreign investment challenges in China. Xi noted the significant contributions of foreign enterprises to China's economy, while reiterating the mutually beneficial nature of China-US trade relations.
HSBC is reportedly considering outsourcing parts of its fixed-income trading business to firms like Citadel Securities or Jane Street, despite denying such plans. While this could reduce capital and tech costs, the bank must protect its lucrative FX trading operations, which are vital to its corporate clients. The historical track record of similar partnerships raises concerns about their effectiveness, making it crucial for HSBC to carefully evaluate any potential alliances.
HSBC has dismissed a group of investment bankers in London and Hong Kong on the day they were to receive their bonuses, citing a shift in focus towards Asia and the Middle East. The affected employees, primarily at vice president level or above, were reportedly surprised as they expected to receive bonuses tied to their performance. This move follows a similar strategy by Barclays to minimize large payouts, amidst HSBC's ongoing cost-cutting plan aimed at saving $1.5 billion annually by 2026.
UBS is contemplating relocating its headquarters amid potential capital requirement increases of up to $40 billion, which could hinder its global competitiveness. CEO Sergio Ermotti emphasized that excessive regulations could penalize the bank's diversified operations and impact Switzerland's economy. The bank's commitment to a Swiss identity remains, but it faces challenges balancing local regulations with its international business strategy.
HSBC has terminated investment bankers on bonus day, denying bonuses to many affected, reflecting a cost-cutting strategy under new CEO Georges Elhedery. The bank is restructuring its UK investment banking operations, aiming to save $300 million by 2025 and $1.5 billion annually by the end of next year. Despite the layoffs, some bankers expected bonuses for prior work, highlighting a shift in HSBC's traditionally supportive culture.
The Global Investment Summit (GIS) in Hong Kong attracted over 4,000 delegates, making it the largest event of its kind in Asia. This three-day summit served as a vital platform for corporate, institutional, and wealth clients to explore emerging trends in trade, finance, and technology. Group CEO Georges Elhedery emphasized the summit's role in fostering connections and inspiring innovative discussions.
HSBC is set to expand its investment banking operations in Asia and the Middle East, focusing on debt financing, mergers and acquisitions, and equity capital markets, following its exit from key European and U.S. businesses. CEO Georges Elhedery emphasized the bank's strategy to concentrate on areas where it can provide differentiated services, aiming for $1.5 billion in annual savings by 2026 through a major restructuring initiative. The bank will continue investing in Hong Kong, reinforcing its position as a leading cross-border wealth hub.
HSBC Holdings is shifting its investment banking focus to Asia and the Middle East, reallocating US$1.5 billion in cost savings to enhance growth in these regions. This strategic move follows a restructuring under CEO Georges Elhedery, which includes merging commercial and investment banking units and scaling back operations in the US and Europe. The bank anticipates US$1.8 billion in restructuring charges over the next two years, with significant management cuts already implemented.
Georges Elhedery
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
hsbc holdings repurchases over 3.4 million shares across markets
02:16 01.04.2025
hsbc plans major restructuring to save 11.7 billion annually and expand wealth management
04:07 31.03.2025
China's Xi urges CEOs to safeguard trade amid looming US tariffs
United States Dollar
Toyota Motor Corp
Hitachi, Ltd.
AstraZeneca PLC
Standard Chartered PLC
Mercedes-Benz Group AG
FedEx Corp
SK hynix Inc.
SAU
CHN
USA
Georges Elhedery
Kwak Noh-Jung
Toshiaki Higashihara
Raj Subramaniam
Xi Jinping
Amin Nasser
Ola Källenius
Show more
13:01 28.03.2025
hsbc weighs partnership options while protecting its lucrative foreign exchange trading business
12:17 28.03.2025
hsbc fires investment bankers on bonus day amid strategic shift
19:13 27.03.2025
ubs considers relocating headquarters amid rising capital requirements and regulatory tensions
Swiss Franc
United States Dollar
Euro
British Pound Sterling
Hong Kong Dollar
New York Community Bank
Barclays PLC
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Credit Suisse Strategic Income I
Ing. A. Dielissen Bouwkundig werk
Julius Bär Gruppe AG
GBR
CHE
USA
Georges Elhedery
Jamie Dimon
John Waldron
Andrea Orcel
Ana Botina
Colm Kelleher
David M. Solomon
Sergio Ermotti
Show more
13:28 27.03.2025
hsbc cuts investment banking jobs and eliminates bonuses under new leadership
01:01 27.03.2025
global investment summit fosters connections and insights in hong kong
01:00 27.03.2025
hsbc expands investment banking in asia and middle east amid restructuring efforts
15:02 26.03.2025
hsbc shifts investment banking focus to asia and middle east
04:49 26.03.2025
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
CEO Changes
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: