HSBC’s Roberts says increase in US visa costs is ‘manageable’

Core Viewpoint - HSBC Holdings Plc considers the increase in visa costs for foreign employees in the US as "manageable" due to having fewer visa holders compared to peers and major technology companies [1][2]. Group 1: Visa Cost Impact - The Trump administration has raised the application fee for H-1B visas to $100,000, aimed at protecting American jobs and enhancing national security [3]. - This increase has caused concern among global companies, particularly in the technology sector, which heavily relies on the H-1B visa program for skilled workers [3]. - HSBC's corporate and institutional banking division head, Michael Roberts, indicated that the visa cost issue may be more significant for other financial services and tech firms [2][4]. Group 2: Company Position - HSBC has a relatively small number of visa holders, making the situation more manageable for the bank compared to larger firms like Amazon, Microsoft, and Meta, which hold the most H-1B visas [2][4]. - The bank experienced a surge of activity over the weekend following the announcement of the visa fee increase, similar to other companies [4].