HSBC to close another 62 branches this year January 24, 2017 HSBC is set to close another 62 branches across the UK this year, the banking giant announced today. This takes the total number of branches closing this year to 117. The move marks the end of "HSBC's branch restructuring programme", Antonio Simoes, chief executive of the banking giant, said. “We now feel we have the right branch network that [...]
HSBC has appointed a new boss for its retail bank February 14, 2017 HSBC has named a new boss for its retail bank – the current head of commercial banking. Ian Stuart will become chief executive of the newly ring-fenced institution, subject to regulatory approval. Stuart will be based in Birmingham, in the head office of the retail bank. Stuart has helmed commercial banking in both the UK for the bank [...]
Stocks for a durable ISA portfolio in the Brexit years March 24, 2019 By Edmond Jackson from interactive investor. With the Brexit outcome still uncertain, companies analyst Edmond Jackson picks five larger cap stocks and three AIM shares for a resilient ISA. Be aware how sentiment towards equities hinges currently on whether Brexit is "resolved" by way of "Soft" business-friendly outcome, or the UK leaves the EU without [...]
HSBC share price rises as AIA head Mark Tucker confirmed as new chairman March 13, 2017 Hong Kong-listed shares in HSBC have risen as markets greet the announcement of Mark Tucker as its new chairman. Shares on the Hang Seng index rose by 2.06 per cent at the time of publication, ahead of markets opening in London, where HSBC is also listed. The stock subesquently rose 1.2 per cent at the open [...]
Blockchain consortium R3 has raised a $107m series A round of funding from top banks like HSBC, Barclays, UBS and Wells Fargo May 23, 2017 One of the biggest consortium’s working on blockchain technology has raised $107m from the world’s top banks and other big name investors, it’s been revealed. R3 founder and chief executive David Rutter announced the huge figure for its series A round on stage at a blockchain conference in New York, calling the investment “unprecedented”. Investors [...]
Martin Sorrell vs WPP: The king of adland wages war on the company he founded with his new venture S4 August 8, 2018 When a couple break up, sage advice is that it’s best to part ways amicably. This advice, however, has not been heeded by Martin Sorrell and WPP, the company Sorrell founded in 1985, turned into a global powerhouse, then exited in controversial fashion in April this year. Sorrell and WPP have been engaged in a war of [...]
Kicking off: War of words between former boss Bob Mackenzie and car insurance giant AA rolls on May 1, 2018 Former AA boss Bob Mackenzie has found himself in the spotlight once again, following allegations that he hushed up a street fight which left him unable to deliver presentations to major City investors. The legal battle between Mackenzie and the roadside assistance giant ramped up yesterday after court filings of the AA’s defence were revealed [...]
Banks launch £225m Carillion emergency fund after government task force “challenge” | City A.M. January 18, 2018 Three of Carillion’s former lenders today made £225m of assistance available to small businesses hit by the collapse of the insolvent contractor. HSBC opened a £100m fund, Royal Bank of Scotland made £75m available and Lloyds launched £50m of help, it was announced this evening. After Carillion’s collapse on Monday morning, the government stepped in [...]
Banks launch £225m Carillion emergency fund after government task force “challenge” | City A.M. January 18, 2018 Three of Carillion’s former lenders today made £225m of assistance available to small businesses hit by the collapse of the insolvent contractor. HSBC opened a £100m fund, Royal Bank of Scotland made £75m available and Lloyds launched £50m of help, it was announced this evening. After Carillion’s collapse on Monday morning, the government stepped in [...]
HSBC chairman search: Former man from the Pru Mark Tucker will replace Douglas Flint March 12, 2017 Mark Tucker, chief executive and president of AIA and former boss of Prudential, has been confirmed as chairman of HSBC, marking the first time the bank has appointed an external chairman. Tucker will receive an annual fee of £1.5m and a one-time relocation benefit of £300,000 for moving from Hong Kong to London. He will take up [...]