HSBC Holdings (HSBC) has signed an agreement to sell its private banking business in Germany to BNP Paribas (BNPQY) . The deal's financial terms, expected to close in the second half of 2025, have not been disclosed. The transaction, still subject to relevant regulatory approvals, is projected to result in a gain on sale for HSBC. As part of the agreement, the assets and customers of HSBC Germany's private banking business, along with nearly 120 employees, will be transferred to BNPQY. For BNPQY, the deal a ...

As HSBC Holdings plc (HSBC) seeks a larger share of the wealth management market in the U.K., the bank has gone on a hiring spree to recruit hundreds of bankers to serve the ultra-rich. The news was first reported by The Guardian. HSBC aims to strengthen the U.K. arm of its wealth and private banking operations by recruiting more relationship managers, who offer bespoke services and advice to rich clients in exchange for lucrative fees. According to a source familiar with the plan, while HSBC has headquarte ...

HSBC Holdings (HSBC) is considering a merger between its Commercial Banking and Global Banking and Markets divisions as part of its new CEO Georges Elhedery's efforts to reduce costs and improve operational efficiency. This news was first reported by Bloomberg. By integrating these two major divisions, HSBC aims to streamline operations, eliminate redundant roles and create a more focused approach to serving clients of all sizes. HSBC's Strategic Move to Reduce Overlap The step would bring together HSBC's C ...

Banking giant HSBC is reportedly considering a merger of its commercial and investment bank operations. The plan is part of new CEO Georges Elhedery's effort to eliminate overlapping roles across the company and reduce expenses, Bloomberg reported Monday (Sept. 9), citing unnamed sources. The merger could marry HSBC's global banking and markets business, creating a combined division with a 90,000-person workforce that would be the bank's largest driver of revenue at $40 billion a year, according to the repo ...

Yellow cute robot stands on heap US banknote background. Pla2na/iStock via Getty Images If you're looking for yield, deep value stocks are among those you should be looking at. Such stocks often have very high yields, and as a class have a slightly higher than average yield. The Roundhill Deep Value ETF (DEEP) has a 1.62% 30-day SEC yield, which is slightly higher than that of the S&P 500. It's not an enormous yield in itself; however, the deep value basket it tracks does contain some high yield names. In t ...

HSBC Holdings plc's (HSBC) incoming chief executive officer (CEO), Georges Elhedery, is considering a significant organizational transformation intended to streamline the company's operations, according to a Bloomberg report. After taking over as the new CEO on Sept. 2, Elhedery will mull plans that could include cutting layers of middle management and reducing the number of country heads across HSBC's global footprint. These anticipated job cuts align with HSBC's ongoing focus on improving efficiency and c ...

Goldman Sachs (GS) and HSBC Holdings plc (HSBC) , along with the other two companies, have settled a long-standing class action lawsuit, putting an end to claims of market manipulation in the platinum and palladium markets that have persisted for over a decade. The other defendants in the lawsuit are German industrial company BASF (BASFY) and London-based ICBC Standard Bank. GS, HSBC, BASFY and ICBC Standard Bank have agreed to pay $20 million to settle the long-standing platinum price-fixing antitrust laws ...

HSBC Holdings plc's (HSBC) India branch has announced a strategic partnership with Bajaj Allianz General Insurance, one of the leading private general insurers in India. The aim of the bancassurance partnership is to offer Bajaj Allianz's comprehensive suite of insurance products and services to HSBC's vast customer base in India, based on a shared vision of financial inclusion and customer empowerment across the country. Notably, bancassurance is an insurance distribution model in which an insurance compan ...

BERK OZDEMIR Investment Thesis HSBC Holdings plc (NYSE:HSBC) is one of the largest investments in our portfolio. It has also been with us for nearly ten years. In our previous article in March this year, we looked past Q1 results and continued our line of buy stances for this large financial institution. This was based on the anticipation that HSBC should be able to grow EPS and the dividend per share from improvements in productivity and successful execution of business, especially in wealth and corporate ...

HSBC Holdings (HSBC) reported a second-quarter 2024 pre-tax profit of $8.9 billion, up 1.5% from the prioryear quarter. The reported quarter included a loss related to the recycling of reserves following the completion of the sale of the business in Russia. This was partly offset by growth in Securities Financing and Equities in Global Banking and Markets, and from Wealth in Wealth and Personal Banking. Results were aided by a decline in expected credit losses and other credit impairment charges (ECL). Howe ...