Top City bosses to take questions from MPs on Brexit tomorrow January 9, 2017 Some of the City's better-known names will face questions from MPs on Brexit tomorrow. Group chairman of HSBC Douglas Flint, chief executive of the London Stock Exchange Xavier Rolet and vice chair of Allianz Global Investors Elizabeth Corley are scheduled to give evidence on the UK's future economic relationship with the European Union to the influential Treasury Select [...]
EU referendum: HSBC’s Paris pledge reveals that Brexit poses a number of risks for the City, including the regulatory environment and access to the open market February 15, 2016 The truth is, we don't know what it would mean for the City if the United Kingdom votes for Brexit. There are too many uncertainties. That's one reason why HSBC has said today that it could shift as many as 1,000 jobs from London to Paris if the UK leaves the EU. But the impact could be [...]
The 10 companies where directors earn the highest salaries January 3, 2017 Thinking of climbing the career ladder in 2017? C'mon, who isn't, let's be honest. It's a new year bringing new opportunity, after all. But if you're looking to make the leap to director level, or are eyeing a change of scenery at that level already, some moves are worth making more than others – when [...]
HSBC share price slides as it posts surprise dip in profits February 22, 2016 Admittedly, it hasn't been the easiest year for HSBC – but analysts were nonetheless taken by surprise when it posted a 1.2 per cent decline in net profit for 2015. The figures Net profits fell to $13.52bn (£9.52bn) in the year to the end of December, down 1.2 per cent from $13.69bn last year. Meanwhile, pre-tax profits rose one per cent to $18.9bn, from $18.7bn last year – [...]
How blockchain technology could revolutionise global trade January 20, 2017 Blockchain technology could revolutionise trade – making it cheaper, quicker and simpler for businesses to trade internationally. From “letters of credit” to “bills of lading”, merchandise trade today is heavily reliant on paper documents. In our digital, connected world, there is a growing need to modernise trade’s many paper-based processes. Digitisation would reduce bureaucracy, improve [...]
Big five banks run up £100bn bill in bad loans and legal costs over the last five years February 16, 2017 The UK's big five banks, which report full-year results next week, have run up a bill of nearly £100bn over the last five years for a toxic mix of fines and bad loans according to a new analysis. However, the era of sour loans and megafines that dwarf the banks' dividend payouts could finally be [...]
City Moves for 16 November 2016 | Who’s switching jobs November 16, 2016 HSBC HSBC’s Sanjeev Chopra is to join Psigma Investment Management as investment director in January 2017 reporting to John Howard-Smith, CEO. A seasoned investment professional, Sanjeev has worked at HSBC for nearly two decades, his most recent role being client director at HSBC Global Asset Management. IHS Markit IHS Markit has appointed Andrew Aziz as the global [...]
HSBC expansion curtailed by China slowdown January 18, 2016 London based HSBC has had its expansion plans throughout Asia dashed by slowing economic growth in China and increased market volatility throughout the region, according to Moody's Investors Service. The bank, which is still considering whether to move its headquarters to Hong Kong or possibly the US, pulled in around 60 per cent of pre-tax [...]
Davos 2017: Who’s at the World Economic Forum and who’s not? Theresa May and Philip Hammond head to Switzerland along with bank bosses and, um, Jamie Oliver January 15, 2017 The great and the good of the global elite will head to the slopes Switzerland this week for the annual World Economic Forum in Davos. From bank bosses to economists, tech stars to politicians – and even a sprinkling of celebrity glitz – the agenda for the 47th meeting may be centred around the concept of [...]
A drop in footfall means RBS, HSBC, and Barclays could all be about to close more branches around the country April 6, 2016 A continuing slide in the number of people using bank branches means three of Britain's biggest banks could be considering closing the doors on hundreds between them this year. RBS, HSBC, and Barclays have all said they are reviewing the number of branches they operate but were unable to comment on specific numbers. It was earlier reported by [...]