HSBC leadership said Monday that uncertainty surrounding the coronavirus, Brexit negotiations, and trade tensions between the U.S. and China are setting the scene for an unpredictable second half of the year following a shaky second quarter in which profits sharply declined.
Genworth Financial said Tuesday that its chief financial officer plans to step down and will be replaced by Dan Sheehan, the insurer’s current chief investment officer, as it continues to work toward being acquired by China Oceanwide Holdings.
HSBC has elevated a longtime regulatory veteran at the bank to chief compliance officer for U.S. operations, a key role as the federal government threatens to sanction banks seen as helping China crack down on personal freedoms in Hong Kong.
Credit Suisse said it’s eyeing full ownership of its Chinese securities joint venture just one month after claiming a majority stake in the entity, as the lender looks to expand its presence in China.
Taiwan officially launched an office on Wednesday that will facilitate migration from Hong Kong in a bid to attract bankers, skilled workers and companies that want to escape China’s increasing control over the former British colony.
AIA Group’s new chief executive Lee Yuan Siong began his tenure Monday as the Asian insurance giant sought to recover from depressed revenues driven by lockdown restrictions and months of anti-government protests in Hong Kong.