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HSBC to end M&A, Capital Markets in Great Britain, Europe and us

HSBC Bank branch on January 15, 2024 in London, Great Britain. HSBC Bank PLC is a British multinational banking and financial services organization. The HSBCS International Network comprises around 7,500 offices in over 80 countries worldwide. (Photo by Mike Kemp/In pictures about Getty Images)

Mike Kemp | In pictures | Getty pictures

HSBC Prepares to end his M&A and Equity Capital Markets companies in Europe, Great Britain and the United States while he has a broader revision of his investment banking business activities.

“As part of our continuous efforts to simplify HSBC and improve the leadership into our strength, we are taking off our investment banking business,” said a spokesman on Tuesday. “We will maintain more focused M&A and Equity Capital Market skills in Asia and the Middle East and reserve our M&A and share capital markets in Great Britain, Europe and the USA, subject to local legal requirements.”

The Global Investment Banking brought 544 million US dollars in the six months to June 30, which, according to HSBC intermediate report, was only 6.2% of the bank’s net income.

The London stocks of HSBC decreased by 0.16% at 11:50 a.m. London.

The news that Bloomberg reported for the first time are used as CEO of HSBC, Georges Elhedery, who entered the leadership role last year, the lender for a broader overhaul for the cost reduction effort.

Already in October, the bank presented plans for a new geographical setup and set out to consolidate their business in four business units that were divided between a branch in the “eastern markets”-and united asia-pacific and the nearby Eastern and A “western markets” division consisting of the non -fenced British bank, the continental European business and America.

The HSBC, which is due to the annual results on February 19, has benefited together with other European lenders from a number of high interest rates, but now has to comply with the loss because the European Central Bank continues to relax its monetary policy. In the third quarter, the bank last reported a profit before tax of $ 8.5 billion, which corresponds to the analyst expectations of $ 8 billion, according to LSEG data. At that time, the lender also announced a stock of $ 3 billion.

The bank also weathered at the top of the weather change. The first financial officer Pam Kaur, Pam Kaur this month, and the long -term chairman, Mark Tucker, is expected to withdraw in 2026, said Sky News.

(Tagstotranslate) Banks (T) HSBC Holdings PLC (T) Business News

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