US EditionHSBC investors back CEO's investment banking retrenchment
- Investors in HSBC support management's decision to close certain investment banking teams to prioritize core Asian markets, according to four shareholders, including two of the largest.
- Pressure is increasing on CEO George Elhedery to redirect capital into Asian economies due to U.S. Tariffs impacting HSBC's earnings power.
- Analysts expect HSBC's full-year profit to be $31.6 billion, showing little change following a significant jump to $30.3 billion in 2023.
- Sajeer Ahmed, global equities portfolio manager at Aegon Asset Management, noted that HSBC's management is focusing on achieving a sustainable return on tangible equity of around 16%.
9 Articles
9 Articles
HSBC Investors Back CEO's Investment Banking Retrenchment
US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics, business, health, and education.
HSBC to Unveil Accelerated Asia Pivot
London-headquartered HSBC is set to announce its annual results on Wednesday this week. Further details about its strategy are expected to be unveiled, including an accelerated pivot to Asia. On February 19, HSBC will report its full-year financial results for 2024. The bank previously said it would provide further details on its ongoing overhaul, which has seen a global restructuring and job cuts. According to a «Financial Times» report, $1.5 b…
Coverage Details
Bias Distribution
- 50% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
