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 ...

HSBC Holdings (HSBC) is reportedly considering selling its South African businesses as part of a strategic shift toward its core focus on Asian markets. This news was first reported by Bloomberg, which noted that the potential sale has garnered interest from regional banks and institutions from China and the United Arab Emirates. HSBC entered the South African market in 1995. Over the years, the bank's primary activities in Africa's most developed economy have included commercial banking, global banking and ...

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of July 2024 Commission File Number: 001-14930 HSBC Holdings plc 8 Canada Square, London E14 5HQ, England (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F). Form 20-F X Form 40-F ...... This Report on Form 6-K with respect to our interim ...

HSBC Holdings plc (NYSE:HSBC) Q2 2024 Earnings Conference Call July 31, 2024 2:45 AM ET Company Participants Noel Quinn - Group Chief Executive Georges Elhedery - Group Chief Financial Officer Conference Call Participants Andrew Coombs - Citigroup Amit Goel - Mediobanca Joseph Dickerson - Jefferies Raul Sinha - JPMorgan Jeremy Hugh - CICC Aman Rakkar - Barclays Edward Firth - KBW Katherine Lei - JPMorgan Gurpreet Singh Sahi - Goldman Sachs Operator Welcome, ladies and gentlemen to the Analyst and Investor W ...

"We are growing and investing in our international retail and wealth business to sit alongside this, which is helping to diversify revenue," HSBC's outgoing CEO Noel Quinn said Wednesday. The bank posted pretax profit in the six months to June of $21.56 billion, down from $21.66 billion in the same period of last year. The first-half figure nevertheless came in well above the $20.5 billion average of broker estimates compiled by HSBC, according to Reuters. This breaking news story is being updated. Europe's ...

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits. Another notable valuation metric for HSBC is its P/B ratio of 0.83. The P/B ratio pits a stock's market value against ...