HSBC said Monday that it is creating an environmental, social and governance unit to cater to the growing number of clients around the globe seeking to “rebuild and transition their businesses and economies in a more sustainable way post-COVID-19.”
HSBC said it is planning to double the number of Black employees in senior roles by the end of 2025, marking the latest financial firm to set hiring targets for the under-represented demographic group amid rising global concern over racial injustices.
HSBC has refuted claims published in Chinese state-run media that the bank set up telecom giant Huawei, which is facing a U.S. Department of Justice probe, as the lender finds itself again caught between China and the West amid rising tensions.
Former Bridgewater Associates Co-CEO Eileen Murray is suing the company, claiming that the hedge fund is blocking her from receiving deferred compensation for publicly disclosing the existence of an ongoing dispute over allegations of gender discrimination.
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.
The Bank of France chose eight finance businesses to test central bank digital currencies to improve payments between banks, following months of exploration by the country into a digital alternative to paper money.
U.K. lender HSBC on Tuesday launched a new reporting service designed to give institutional investors and their asset managers independent measurements of the environmental, social and governance performance of their large holdings.
Hong Kong’s capital markets regulator said Sunday that it doesn’t expect China’s new national security law to impact how financial institutions do business in the city, even as reports emerge that banks are increasing scrutiny of clients in response to the statute.
Standard Chartered is deepening its ties to China with plans to invest HKD 310 million ($40 million) to set up a new center in Guangzhou, as Beijing aims to transform the coastal Greater Bay Area region into an international financial hub.
HSBC’s holding company has tapped Amazon Web Services as a strategic cloud provider in a multi-year global agreement, the businesses revealed Wednesday, marking a milestone in the “digital transformation” of Europe’s biggest bank.
President Donald Trump signed legislation on Tuesday that allows him to sanction banks, businesses and officials involved in helping China impose a controversial new security law on Hong Kong.
Barclays is launching a digital adviser that will manage funds for customers who invest as little as GBP 5,000 ($6,280), a move the bank said Tuesday gives less-affluent clients access to services that were previously only available to the wealthy.
Investment firm Schroders plc said on Monday that it has launched a new funds lineup called Schroder Portfolios, with six funds that follow a “multi-managed, multi-asset investment approach” and include a mix of active and passive components.
HSBC said Thursday that a digital version of the Chinese yuan, which it suspects will launch soon, could improve China’s payment systems and put the nation at the forefront of digital currency development.
Chinese new bank lending soared to a record CNY 12.09 trillion ($1.72 trillion) in the first half of 2020 as China sought to recover from pandemic-related shutdowns, according to data released Friday by the country’s central bank.
Hong Kong Exchanges and Clearing has launched the first clearing service using an alternative to the Hong Kong Interbank Offered Rate, or HIBOR, reflecting local regulatory efforts to nudge banks away from the old reference rate regime.
HSBC Bank Canada has issued the country’s first green loan, the company said Thursday, converting an existing 71.5 million Canadian dollar (about $52.6 million) loan to Vancouver-based Concert Properties and building on HSBC’s sustainability goals.
In a bid to appeal to a younger generation by removing perceived obstacles, Hang Seng Bank has debuted SimplyFund, an in-app service that offers curated mutual fund choices to beginning investors, the Hong Kong-based bank said Tuesday.
London-based HSBC plans to cut 255 jobs from its French subsidiary’s struggling global and banking markets division, HSBC France’s Force Ouvrière union said Monday, marking the first time that HSBC France has seen economic layoffs.
HSBC is further expanding its Chinese footprint by creating a new fintech company and hiring a group of personal wealth advisers, a bank spokesperson told Fastinform on Monday.