HSBC Slows Down Hiring for Investment Banking, Investment Bankers to Reduce Travel & Entertainment Expenses
4th July 2024 | Hong Kong
HSBC is slowing down hiring for investment banking, with HSBC investment bankers asked to reduce travel & entertainment expenses. In 2024 May, HSBC CEO Noel Quinn announced his resignation after 4 years as HSBC CEO since his appointment in 2020 March and 37 years at HSBC (joined in 1987), with Noel Quinn quoted as wanting a better work-life balance since taking on intensive senior leadership role at HSBC Commercial Bank in 2008 (12 years). Noel Quinn will remain at HSBC until his successor starts the CEO role or till the end of his 1-year notice on 30th April 2025. In February 2024, HSBC reported $30.3 billion profit for 2023. In 2023, HSBC Premier, Jade & Private Bank AUM (Assets under Management) is at $536 billion, and HSBC reporting net new invested assets of $84 billion with $47 billion of new assets from Asia. HSBC group manages $3 trillion assets with 42 million clients, and has a current market value of $144 billion (23/2/24: GBP 114 billion).
“ HSBC Slows Down Hiring for Investment Banking, Investment Bankers to Reduce Travel & Entertainment Expenses” “
HSBC CEO Noel Quinn Resigns after 4 Years as CEO Since Appointment in 2020 & 37 Years at HSBC Joining in 1987, Noel Quinn Wants Better Work-Life Balance, Will Remain at HSBC until Successor Starts Role or Till End of 1-Year Notice on 30th April 2025, HSBC Current Market Value at $159 Billion, Share Price +8.8% YTD, +15.5% in Last 12 Months, +0.8% In Last 5 Years
1st May 2024 – HSBC CEO Noel Quinn has announced his resignation after 4 years as HSBC CEO since his appointment in 2020 March and 37 years at HSBC (joined in 1987), with Noel Quinn quoted as wanting a better work-life balance since taking on intensive senior leadership role at HSBC Commercial Bank in 2008 (12 years). Noel Quinn will remain at HSBC until his successor starts the CEO role or till the end of his 1-year notice on 30th April 2025. HSBC current market value is at $159 billion (30/4/24: GBP 128 billion), with HSBC share price +8.8% YTD, +15.5% in last 12 months, +0.8% in last 5 years. In February 2024, HSBC reported $30.3 billion profit for 2023. In 2023, HSBC Premier, Jade & Private Bank AUM (Assets under Management) is at $536 billion, and HSBC reporting net new invested assets of $84 billion with $47 billion of new assets from Asia. HSBC group manages $3 trillion assets with 42 million clients, and has a current market value of $144 billion (23/2/24: GBP 114 billion).
HSBC Private Banking to Close Independent & External Asset Manager Desks in Hong Kong & Singapore, Will Remain Committed to Single Family Offices & Multi-Family Offices
27th April 2024 – HSBC Private Banking is closing the Independent Asset Manager & External Asset Manager (IAM / EAM) desks in Hong Kong & Singapore, and will remain committed to Single Family Offices (SFOs) & Multi-Family Offices (MFOs). In early April 2024, HSBC CEO Noel Quinn was quoted to be targeting strong wealth management capabilities in Hong Kong, Mainland China, Singapore, ASEAN & India. In April 2024, HSBC held the HSBC Global Investment Summit 2024 in Hong Kong over 3 days (8th to 10th April 2024) was attended by over 3,500 participants from more than 1,100 institutions & 40 countries, with key speakers including the ex-UK Prime Minister Gordon Brown, Microsoft co-founder Bill Gates & Oscar winner Michelle Yeoh. HSBC is planning to host the HSBC Global Investment Summit in early 2025. In February 2024, HSBC reported $30.3 billion profit for 2023. In 2023, HSBC Premier, Jade & Private Bank AUM (Assets under Management) is at $536 billion, and HSBC reporting net new invested assets of $84 billion with $47 billion of new assets from Asia. HSBC group manages $3 trillion assets with 42 million clients, and has a current market value of $144 billion (23/2/24: GBP 114 billion).
HSBC CEO Noel Quinn Targets Strong Wealth Management Capabilities in Hong Kong, Mainland China, Singapore, ASEAN & India
11th April 2024 – HSBC CEO Noel Quinn is targeting strong wealth management capabilities in Hong Kong, Mainland China, Singapore, ASEAN & India. In April 2024, HSBC held the HSBC Global Investment Summit 2024 in Hong Kong over 3 days (8th to 10th April 2024) was attended by over 3,500 participants from more than 1,100 institutions & 40 countries, with key speakers including the ex-UK Prime Minister Gordon Brown, Microsoft co-founder Bill Gates & Oscar winner Michelle Yeoh. HSBC is planning to host the HSBC Global Investment Summit in early 2025. In February 2024, HSBC reported $30.3 billion profit for 2023. In 2023, HSBC Premier, Jade & Private Bank AUM (Assets under Management) is at $536 billion, and HSBC reporting net new invested assets of $84 billion with $47 billion of new assets from Asia. HSBC group manages $3 trillion assets with 42 million clients, and has a current market value of $144 billion (23/2/24: GBP 114 billion).
HSBC Reports $30.3 Billion Profit for 2023, HSBC Premier, Jade & Private Bank AUM at $536 Billion, Net New Invested Assets of $84 Billion with $47 Billion from Asia, $3 Trillion Assets with 42 Million Clients, HSBC Current Market Value at $144 Billion, Wealth & Personal Banking $11.5 Billion Profit, Commercial Banking $13.2 Billion Profit, Global Banking & Markets $5.9 Billion Profit, Corporate Centre $400 Million Loss
23rd February 2024 – HSBC has reported $30.3 billion profit for 2023. In 2023, HSBC Premier, Jade & Private Bank AUM (Assets under Management) is at $536 billion, and HSBC reporting net new invested assets of $84 billion with $47 billion of new assets from Asia. HSBC group manages $3 trillion assets with 42 million clients, and has a current market value of $144 billion (23/2/24: GBP 114 billion). In 2023, HSBC wealth & personal banking reported $11.5 billion profit, commercial banking with $13.2 billion profit, global banking & markets with $5.9 billion profit, and corporate centre with $400 million loss. Noel Quinn, HSBC Group Chief Executive: “Our record profit performance in 2023 enabled us to reward our shareholders with our highest full-year dividend since 2008, three share buy-backs last year totalling $7 billion, and a further share buy-back of up to $2 billion. This reflected four years of hard work and the strength of our balance sheet in a higher interest rate environment. We have a strong platform for growth with the opportunities that exist within our two home markets and across our international wholesale, market-leading transaction banking, and wealth management businesses. We are focused on capturing these growth opportunities, improving our earnings sustainability and targeting mid-teens returns in 2024.”
HSBC Reports $30.3 Billion Profit for 2023, HSBC Premier, Jade & Private Bank AUM at $536 Billion, Net New Invested Assets of $84 Billion with $47 Billion from Asia, $3 Trillion Assets with 42 Million Clients, HSBC Current Market Value at $144 Billion, Wealth & Personal Banking $11.5 Billion Profit, Commercial Banking $13.2 Billion Profit, Global Banking & Markets $5.9 Billion Profit, Corporate Centre $400 Million Loss
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