HSBC to Begin Senior Management Job Cuts in the Next Few Weeks after Restructuring into 4 Business Lines in 2025: 1) Hong Kong, 2) United Kingdom, 3) Corporate & Institutional Banking, and 4) International Wealth & Premier Banking
9th November 2024 | Hong Kong
HSBC will begin senior management job cuts in the next few weeks. In 2024 October, HSBC announced restructuring into 4 business lines starting in 2025: 1) Hong Kong, 2) United Kingdom, 3) Corporate & Institutional Banking, and 4) International Wealth & Premier Banking effective 2025, and appointing Chief Risk & Compliance Officer Pam Kaur as CFO succeeding Georges Elhedery who was appointed as HSBC CEO. 1) Hong Kong will be led by David Liao & Surendra Rosha, 2) United Kingdom will be led by Ian Stuart, 3) Corporate & Institutional Banking will be led by Michael Roberts, and 4) International Wealth & Premier Banking will be led by Barry O’Byrne. HSBC global businesses will be organised into Western market led by Michael Roberts, and Eastern market (APAC, MENA & Turkey) led by David Liao & Surendra Rosha. In 2024 July, HSBC announced the appointment of 20-year HSBC veteran & CFO Georges Elhedery as HSBC Group Executive, succeeding Noel Quinn who is leaving on 2nd September 2024. Georges Elhedery was appointed as HSBC CFO in 2022 and had held senior leadership roles at HSBC including as HSBC Co-Head of Global Banking & Markets (Trading & Investment Banking), and HSBC CEO for Middle Eastern, North Africa & Turkiye region. Georges Elhedery had joined HSBC 20 years ago in 2005. 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). In 2024 August, HSBC announced Senior Management Changes – HSBC Global Commercial Banking (CMB) CEO Barry O’Byrne has been appointed as CEO of Global Wealth & Personal Banking succeeding Nuno Matos who is departing after 9 years, Aileen Taylor appointed as Group Chief Human Resources & Governance Officer succeeding Elaine Arden, Group COO John Hinshaw to depart with his role to split into 2 roles Group COO & Group Chief Information Officer, Suzy White appointed as Group COO & Stuart Riley appointed as Group Chief Investment Officer.
“ HSBC to Begin Senior Management Job Cuts in the Next Few Weeks after Restructuring into 4 Business Lines in 2025: 1) Hong Kong, 2) United Kingdom, 3) Corporate & Institutional Banking, and 4) International Wealth & Premier Banking “
HSBC Restructures into 4 Business Lines in 2025: 1) Hong Kong, 2) United Kingdom, 3) Corporate & Institutional Banking, and 4) International Wealth & Premier Banking, Appoints Chief Risk & Compliance Officer Pam Kaur as CFO Succeeding Georges Elhedery Who was Appointed as HSBC CEO
22nd October 2024 – HSBC has announced restructuring into 4 business lines starting in 2025: 1) Hong Kong, 2) United Kingdom, 3) Corporate & Institutional Banking, and 4) International Wealth & Premier Banking effective 2025, and appointing Chief Risk & Compliance Officer Pam Kaur as CFO succeeding Georges Elhedery who was appointed as HSBC CEO. 1) Hong Kong will be led by David Liao & Surendra Rosha, 2) United Kingdom will be led by Ian Stuart, 3) Corporate & Institutional Banking will be led by Michael Roberts, and 4) International Wealth & Premier Banking will be led by Barry O’Byrne. HSBC global businesses will be organised into Western market led by Michael Roberts, and Eastern market (APAC, MENA & Turkey) led by David Liao & Surendra Rosha. In 2024 July, HSBC announced the appointment of 20-year HSBC veteran & CFO Georges Elhedery as HSBC Group Executive, succeeding Noel Quinn who is leaving on 2nd September 2024. Georges Elhedery was appointed as HSBC CFO in 2022 and had held senior leadership roles at HSBC including as HSBC Co-Head of Global Banking & Markets (Trading & Investment Banking), and HSBC CEO for Middle Eastern, North Africa & Turkiye region. Georges Elhedery had joined HSBC 20 years ago in 2005. 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). In 2024 August, HSBC announced Senior Management Changes – HSBC Global Commercial Banking (CMB) CEO Barry O’Byrne has been appointed as CEO of Global Wealth & Personal Banking succeeding Nuno Matos who is departing after 9 years, Aileen Taylor appointed as Group Chief Human Resources & Governance Officer succeeding Elaine Arden, Group COO John Hinshaw to depart with his role to split into 2 roles Group COO & Group Chief Information Officer, Suzy White appointed as Group COO & Stuart Riley appointed as Group Chief Investment Officer.
HSBC Senior Management Changes: Barry O’Byrne Appointed as CEO of Global Wealth & Personal Banking Succeeding Nuno Matos Who is Departing after 9 Years, Aileen Taylor Appointed as Group Chief Human Resources & Governance Officer Succeeding Elaine Arden, Group COO John Hinshaw to Depart with Role to Split into 2 Roles Group COO & Group Chief Information Officer, Suzy White Appointed as Group COO & Stuart Riley Appointed as Group Chief Investment Officer
31st August 2024 – HSBC Senior Management Changes – HSBC Global Commercial Banking (CMB) CEO Barry O’Byrne has been appointed as CEO of Global Wealth & Personal Banking succeeding Nuno Matos who is departing after 9 years, Aileen Taylor appointed as Group Chief Human Resources & Governance Officer succeeding Elaine Arden, Group COO John Hinshaw to depart with his role to split into 2 roles Group COO & Group Chief Information Officer, Suzy White appointed as Group COO & Stuart Riley appointed as Group Chief Investment Officer. HSBC (29/8/24): “HSBC Holdings plc (the ‘Company’, and together with its subsidiaries, the ‘Group’) announces changes to its senior management team which will help position the Group for the next phase of development and growth. All changes will take effect from 1 October 2024 and, where required, are subject to regulatory approval. Barry O’Byrne, Chief Executive Officer, Global Commercial Banking (CMB), is appointed CEO, Global Wealth & Personal Banking (WPB). Barry has a strong and proven track record in executing CMB’s transformation and growing the international franchise. Nuno Matos, the current CEO of WPB, has decided to step down to pursue other opportunities after nine years with the Group. He will support Barry in an advisory capacity throughout 2024 and will leave the Group in 2025 after a period of gardening leave. Nuno has led the group in Mexico, Europe and played a significant role in growing the WPB business globally as CEO. Barry will continue to be based in Hong Kong. We will provide an update on plans for his successor in due course. Aileen Taylor, Group Company Secretary & Chief Governance Officer, is appointed Group Chief Human Resources and Governance Officer. Aileen is a strong and inclusive leader with a demonstrable track record over 20 years of advising boards and executives in delivering strategy, simplification and transformation. Throughout her career. Aileen has been instrumental in supporting talent acquisition, training and development and succession planning at board and executive level. Aileen takes over from Elaine Arden, Group Chief Human Resources Officer, who after seven years in role, has decided to step down. Elaine has made a lasting positive impact on HSBC, including through her leadership of the work to help reset HSBC’s Purpose, Strategy and Values, enhance the Group’s talent identification and development capabilities, and to simplify and develop the Group’s performance culture. John Hinshaw, Group Chief Operating Officer (GCOO), has decided to leave the Group to pursue other opportunities. Since joining the Bank in 2019, he has played an important part in the development of the Group’s technology and operations strategies, simplifying our approach, and improving the resilience of the Group. He has improved our third-party supplier relationships, refreshed the Group’s approach to innovation, and led the work to identify and secure the Group’s new global headquarters in London. Georges Elhedery, HSBC Group Chief Executive Officer Designate, has reviewed the accountabilities of the current GCOO role and will split the responsibilities between two new Group Executive Committee level roles – an elevated and expanded role of Group Chief Information Officer, (GCIO), and a newly defined Group Chief Operating Officer (GCOO). Stuart Riley is appointed to the expanded GCIO role, which will assume responsibility for Data and Innovation. He joined the Group in February 2024 and has made a strong and positive impact demonstrating the right capabilities, energy, and values to lead HSBC’s technology teams in the delivery of our technology ambitions. He brings extensive experience in managing global technology for large banking institutions, most recently as Global Co-CIO for Citi, where he co-led the Technology Division. The remaining Group COO accountabilities will become the responsibility of the new GCOO. Suzy White, Global Banking & Markets Chief Operating Officer, has been appointed GCOO on an interim basis, whilst a formal recruitment process is carried out. In this interim capacity, Suzy will attend GEC but will not be a member. Suzy has been with HSBC for over 25 years in a variety of roles including COO for Global Markets and Securities Services and Chief Risk Officer for GBM and CMB in the US.” in 2024 July, HSBC announced the appointment of 20-year HSBC veteran & CFO Georges Elhedery as HSBC Group Executive, succeeding Noel Quinn who is leaving on 2nd September 2024. Georges Elhedery was appointed as HSBC CFO in 2022 and had held senior leadership roles at HSBC including as HSBC Co-Head of Global Banking & Markets (Trading & Investment Banking), and HSBC CEO for Middle Eastern, North Africa & Turkiye region. Georges Elhedery had joined HSBC 20 years ago in 2005. 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).
Georges Elhedery, HSBC Group CEO Designate: “I am really looking forward to working with Barry, Aileen, Stuart and Suzy, as we pursue the next phase of our growth. It has been a pleasure working with Nuno, Elaine and John. I wish them every success in the future”.
Noel Quinn, Group CEO: “I’d like to thank Nuno, Elaine and John for their extraordinary dedication and service to the Group over many years. I wish them well in their future endeavours.”
HSBC Appoints Jonathan Bingham as Interim Group CFO & Continue Existing Role of Global Financial Controller, CFO Georges Elhedery Appointed as HSBC CEO Succeeding Noel Quinn Who is Leaving on 2nd September 2024
31st July 2024 – HSBC has appointed Jonathan Bingham as interim HSBC Group CFO (2/9/24), and will continue his existing role of Global Financial Controller. Jonathan Bingham joined HSBC in 2020, after 20 years at KPMG. Earlier in 2024 July, HSBC announced the appointment of 20-year HSBC veteran & CFO Georges Elhedery as HSBC Group Executive, succeeding Noel Quinn who is leaving on 2nd September 2024. Georges Elhedery was appointed as HSBC CFO in 2022 and had held senior leadership roles at HSBC including as HSBC Co-Head of Global Banking & Markets (Trading & Investment Banking), and HSBC CEO for Middle Eastern, North Africa & Turkiye region. Georges Elhedery had joined HSBC 20 years ago in 2005. 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). HSBC (17/7/24): “HSBC Holdings plc (the ‘Company’) today announces that Georges Elhedery has been appointed as Group Chief Executive, with effect from 2 September 2024. Georges Elhedery joined HSBC in 2005 and was appointed to the Board and as Group Chief Financial Officer in January 2023. He previously served as Co-CEO of Global Banking & Markets, where he also led the Markets & Securities Services division. He led the Group’s Middle Eastern, North Africa and Turkiye region as CEO from July 2016 to February 2019. Georges will continue in the role of Group Chief Financial Officer during the transition period. An announcement in relation to Georges’ successor as Group CFO will be made in due course. Today’s announcement follows an orderly and robust succession process, led by the Group Chairman and Nomination and Corporate Governance Committee with the support of a leading search firm. The process, which considered both internal and external candidates, built upon the Board’s long term Group CEO succession planning activity. The Company confirms that Noel Quinn will step down as Group Chief Executive and as an Executive Director of the Board with effect from 2 September. Until then, Noel will work closely with Georges to support a smooth and orderly handover of responsibilities. He will remain available to the Group and to Georges when on gardening leave until the completion of his 12-month notice period on 30 April 2025.”
HSBC Appoints 20-Year HSBC Veteran & CFO Georges Elhedery as Group Executive to Succeed Noel Quinn Who is Leaving on 2nd September 2024, Georges Elhedery was Appointed as HSBC CFO in 2022 and Had Held Senior Leadership Roles Including as HSBC Co-Head of Global Banking & Markets (Trading & Investment Banking), HSBC CEO for Middle Eastern, North Africa & Turkiye Region
17th July 2024 – HSBC has announced the appointment of 20-year HSBC veteran & CFO Georges Elhedery as HSBC Group Executive, succeeding Noel Quinn who is leaving on 2nd September 2024. Georges Elhedery was appointed as HSBC CFO in 2022 and had held senior leadership roles at HSBC including as HSBC Co-Head of Global Banking & Markets (Trading & Investment Banking), and HSBC CEO for Middle Eastern, North Africa & Turkiye region. Georges Elhedery had joined HSBC 20 years ago in 2005. 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). HSBC (17/7/24): “HSBC Holdings plc (the ‘Company’) today announces that Georges Elhedery has been appointed as Group Chief Executive, with effect from 2 September 2024. Georges Elhedery joined HSBC in 2005 and was appointed to the Board and as Group Chief Financial Officer in January 2023. He previously served as Co-CEO of Global Banking & Markets, where he also led the Markets & Securities Services division. He led the Group’s Middle Eastern, North Africa and Turkiye region as CEO from July 2016 to February 2019. Georges will continue in the role of Group Chief Financial Officer during the transition period. An announcement in relation to Georges’ successor as Group CFO will be made in due course. Today’s announcement follows an orderly and robust succession process, led by the Group Chairman and Nomination and Corporate Governance Committee with the support of a leading search firm. The process, which considered both internal and external candidates, built upon the Board’s long term Group CEO succession planning activity. The Company confirms that Noel Quinn will step down as Group Chief Executive and as an Executive Director of the Board with effect from 2 September. Until then, Noel will work closely with Georges to support a smooth and orderly handover of responsibilities. He will remain available to the Group and to Georges when on gardening leave until the completion of his 12-month notice period on 30 April 2025.”
Georges Elhedery, HSBC & Incoming Group Chief Executive: “I am deeply honoured by the trust placed in me to lead this great institution into the future. Working together with our talented team, I look forward to delivering exceptional value to our clients and investors by driving strong performance on a sustainable growth trajectory.”
HSBC Group Chairman, Sir Mark Tucker: “I am delighted to confirm Georges as the next HSBC Group Chief Executive. He is an exceptional leader and banker who cares passionately about the Bank, our customers, and our people. He has a track record of leading through change, driving growth, delivering simplification, containing costs and brings a strong focus on execution. During his career he has worked in Asia, the Middle East and Europe. Since joining the Board as Group Chief Financial Officer in early 2023 and throughout the selection process, he has demonstrated his strategic insight and vision, and deep international perspectives. The Board concluded that Georges was the outstanding candidate and we look forward to working together as he leads HSBC through the next phase of development and growth.
I would like to express my warm and sincere thanks to Noel for his leadership of the Group over the past five years and for his loyal commitment to the Group for 37 years. On behalf of the Board, I wish him very well on his retirement and in all his future endeavours.”
Profile – Georges Elhedery is appointed as HSBC Group Executive with effect from 2nd September 2024. Georges Elhedery was appointed Group Chief Financial Officer with effect from 1 January 2023. He is also co-chair of the HSBC Holdings ESG Committee. He previously served as Co-CEO of Global Banking & Markets and was also head of the Markets & Securities Services division of the business. Mr Elhedery joined HSBC in 2005 as a senior Global Markets executive with extensive trading experience in London, Paris and Tokyo. He later moved to Dubai and served as Regional Head of Global Markets, Middle East and North Africa (MENA); then as Head of Global Banking & Markets, MENA; and later as CEO for HSBC, Middle East, North Africa and Türkiye. Mr Elhedery also served as Head of Global Markets based in London. Mr Elhedery holds a degree in Engineering from the École Polytechnique in Paris, France, as well as a postgraduate degree in Statistics and Economics from the École Nationale de la Statistique et de l’Administration Économique (ENSAE).
Professional Qualifications of Mr Elhedery:
- Degree in Engineering, Ecole Polytechnique, Paris, France
- Postgraduate degree in Statistics and Economics, Ecole Nationale de la Statistique et de l’Administration Economique (ENSAE), France
HSBC Career History of Mr Elhedery:
- Group Chief Financial Officer – January 2023 to date
- Co-CEO, Global Banking and Markets – March 2020 to December 2022
- Global Head of Markets – March 2019 to February 2020
- CEO, Middle East, North Africa and Turkiye – July 2016 to February 2019
- Head of Global Banking and Markets, Middle East and North Africa – 2014 to July 2016
- Head of Global Markets and Head of Capital Financing, Middle East and North Africa – 2013 to 2014
- Head of Global Markets, Middle East and North Africa – 2010 to 2013
- Deputy Global Head of Rates, Markets, Global Banking and Markets – 2009 to 2010
- Global Head of Structured Rates, Global Banking and Markets – 2005 to 2009
Remuneration – Mr Elhedery, aged 50, joined HSBC in 2005. He is currently an Executive Director and Group Chief Financial Officer. Mr Elhedery’s remuneration as Executive Director and Group Chief Executive of the Company under his service contract will consist of a base salary of £1,376,000 per annum, a fixed pay allowance of £1,700,000 per annum and a pension allowance of £137,600 per annum equal to 10% of his base salary. He will receive benefits in accordance with our approved Directors’ remuneration policy. Mr Elhedery is eligible to be considered for discretionary variable pay that consists of an annual incentive award up to a maximum value of 215% of base salary, and a long-term incentive award up to a maximum of 320% of base salary. This is determined by the Remuneration Committee with reference to the performance of the Company and his personal performance, in accordance with the terms of our approved Directors’ remuneration policy. Mr Elhedery has not held any directorship in any other publicly listed companies, whether in London, Hong Kong or overseas, during the previous five years and he does not have any relationship with any directors, senior management, substantial or controlling shareholders of the Company. As at the date of this announcement, Mr Elhedery is interested in 2,545,618 ordinary shares of the Company, representing in aggregate less than 0.02 per cent of the issued shares of the Company, within the meaning of Part XV of the Securities and Futures Ordinance of Hong Kong.
HSBC Group – HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of US$3,001bn at 31 March 2024, HSBC is one of the world’s largest banking and financial services organisations.
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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