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LATEST ARTICLES
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Though HSBC retrenched from other Latin American markets, it stayed in Mexico, and country chief Jorge Arce says that the bank is well-positioned to take advantage of the nation’s unique blend of structural growth drivers.
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HSBC Saudi Arabia is named Saudi Arabia's best international Islamic bank this year, reflecting its strong performance across capital markets, where it took leading roles in some of the most important regional transactions.
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HSBC Amanah has reinforced its position as the leading Islamic banking institution in Malaysia this year with robust financial performance and innovative product launches. The bank secures is name as the best international Islamic bank in the country as a result.
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It takes structuring expertise, sophistication and a good read of markets to engineer shariah-compliant structured products that perform, especially amid an uncertain and volatile global macroeconomic and markets backdrop.
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There are only a few truly global banking institutions that provide a full range of sophisticated shariah-compliant advice, products and services. HSBC leads this select group, making it Euromoney’s best international Islamic bank for 2024.
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Last year was an important one for sustainable finance in the Middle East. Dubai hosted the COP28 conference, following on from Sharm El-Sheikh in Egypt in 2022. This has well and truly put the spotlight on sustainable finance for banks, corporates and sovereigns in the region.
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In the face of increasing competition among regional and global banks, HSBC has again demonstrated its financing strength and expertise in the Middle East across the breadth of markets, sectors and geographies it is a leader in.
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HSBC dominated the region’s debt capital markets across the awards period, completing 52 DCM transactions worth a total of $10.3 billion, according to data from Dealogic. In equity capital markets, the London-headquartered lender came second, completing seven deals worth $2 billion. It also ranked in initial stock offerings, completing six IPOs worth $1.38 billion in total.
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Rumours that Chinese insurer Ping An could cut its stake in HSBC further, perhaps selling to a Middle East buyer at a time when Gulf investment is flooding into the People’s Republic, should not come as a surprise.
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Restructuring HSBC, like painting the Forth bridge, is a never-ending job. While Noel Quinn has done well, the board must not make another ham-fisted transition.
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In a region where most private-sector commercial activity is undertaken by family businesses, succession planning and wealth transfer could not be more important.
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While the wealthy have excelled in accumulating and managing their assets, many still struggle with the complexities of passing them on. The urgency of succession planning was underscored by an HSBC Trustee survey in 2023, which found that 85% of global families are actively preparing successors for their business empires. This aligns with forecasts that about $18.3 trillion will change hands among high net-worth families by 2030.
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Reports that the long-rumoured deal has been agreed suggest growing optimism among Argentine bankers about the new administration.
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Some banks like the idea of external venture capitalists leading their venture businesses, but banker-led units are more likely to cement their inherent advantage.
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Citi’s sale of its China consumer wealth portfolio to HSBC for $3.6 billion is a nuanced tale of two banks with increasingly different strategies. As HSBC tilts ever more toward Asia, Citi proves ever more inclined to see all financial services through a global prism.
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While banks have accelerated digital solutions across business lines, accomplishing end-to-end digitalization of global trade remains far beyond their reach. The complexity of supply-chain finance remains a challenge, and banks continue to hunt for scalable solutions. Embedded finance could be the answer.
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As other investment banks cut staff, HSBC has been hiring to build a leading bank in tech and healthcare.
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Despite its roots in the region, HSBC’s Asian woes have sometimes seemed endemic. It has been overly dependent on Hong Kong and too often caught in Sino-US crosshairs. But under regional co-CEOs Surendra Rosha and David Liao, the lender has regained its confidence, is more regionally diverse than ever, and is busy posting record profits.
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HSBC remained formidable in the Hong Kong market over the past year and is now well positioned to reap the benefits of mainland China and Hong Kong’s post-Covid reopening.
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It is not much fun being a banker in Argentina. But while it is pretty much universally tough for everyone, spare a thought for individuals like Juan Parma, HSBC’s chief executive Argentina and head of wealth and personal banking America. Because, while Parma’s peers in Argentine banks face many of the same challenges he does, at least for them the whole organization is still focused on the country. HSBC’s global leadership could be forgiven for skipping over the country in global strategy meetings.
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Football clubs undergoing a period of transition often talk of needing a transfer window or two to get where they need to be. More often than not, this doesn’t work. Better-run teams continue to make clear-minded decisions that keep them ahead of the pack. Catching up is always hard to do.
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It is no surprise that HSBC is Asia’s best bank for sustainable finance for the sixth year in a row. Across its commercial, retail, global banking, markets and securities, capital markets, trade finance and risk management teams, the lender has created an extensive sustainability knowledge base that few of its rivals can match.
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HSBC continues to lead from the front as trade finance reinvents itself.
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Public-sector receptivity to innovation in sustainability and tokenization helped HSBC show the markets a glimpse of the future of bonds.
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All big banks say they are leaders in transaction services, few really are. HSBC is always in contention for this award and takes the honours after a year full of new services and innovation.
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HSBC wins the award for the Middle East’s best bank for financing this year. During the awards period the bank topped the equity capital markets league tables, completing 12 deals – more than any other financial institution – worth just over $4 billion, according to Dealogic.
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For cross-border transactions, supply-side financing and capital markets, HSBC Amanah, led by chief executive Raja Amir Shah Raja Azwa, was the international Islamic bank to beat this year.
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The chair of Ping An Asset Management has called again for the break-up of HSBC and spin off of its Asia assets. His argument is a strong and valid one; his problem is that none of the bank’s other main shareholders seems to care.
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No matter what competitors do, contending with a 158-year-old banking major with a presence in 64 economies and a wealth balance the size of Australia’s gross domestic product is going to be hard. Especially if it has a knack for reinvention.
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HSBC is named best digital private bank this year, in part thanks to the sheer scale of its user base and the ubiquity of its app, but also because of the firm’s constant reinvention.
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No international lender is better at serving privately wealthy China clients wherever they are in the world than HSBC.
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HSBC’s global head of trade finance talks about how the bank has built 'the trade finance platform for the future'.
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HSBC runs towards the storm as others are fleeing it.
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Patents are a high-profile demonstration of a bank’s commitment to innovation, but they are not the only option for those looking to encourage new ways of thinking.
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Restrictions on upstream oil and gas financing aren’t the silver bullet that the sector needs to achieve its climate goals.
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New platform acts as central account keeper under Luxembourg law for first ever sterling bond deal on blockchain.
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The bank is focusing on organic growth by acquiring retail clients and launching a private bank.
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HSBC’s outgoing CFO, Ewen Stevenson, has mounted a robust case for the bank’s cost performance in an intriguing call with analysts that also featured an appearance by his replacement, Georges Elhedery. As he prepares to leave the bank, Stevenson defended his legacy by taking on the firm’s arch-critic, Ping An.
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Both HSBC and JPMorgan have recently boosted their digital trade finance offerings, as the ICC Centre for Digital Trade and Innovation commenced testing of digital trade systems between Singapore and the UK.
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Georges Elhedery’s move to the CFO role at HSBC has raised eyebrows among observers seeking to decode it. What does it mean for Elhedery, what happened to incumbent Ewen Stevenson, and what does it say about CEO Noel Quinn?
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A new platform aims to help get troublesome sustainable infrastructure projects financed. Its chief executive explains to Euromoney the ambitions and challenges ahead.
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The failures of we.trade and HSBC’s Serai highlight the challenges that blockchain-based solutions face.
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HSBC’s interim result shows that banks are drawing a line under pandemic-related provisions, while simultaneously setting aside new ones for the disease’s economic cure. All banks must make this transition, but HSBC has other things to worry about besides: a campaign from China’s Ping An to split the bank in half.
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HSBC has dominated the environmental, social and governance (ESG) space for many years, and nowhere is that more evident than in the Middle East. There are many reasons why it deserves to be named the region’s best bank for sustainable finance.
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Last year was one that saw HSBC in its best light in this region. The Middle East is not always an easy place in which to run a full-service investment bank. Some years are stellar; in others the well runs dry. But with energy prices up and governments committed to economic and financial diversification, there has never been a better time to be in the UK lender’s shoes.
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HSBC approaches sustainable finance on a different canvas to everyone else. All houses can highlight great environmental, social and governance deals by now, but HSBC doesn’t just want to tell you about a green bond or a sustainability financing. It wants to talk about shaping policy with assistance to governments and regulators; about how sustainable finance goes all the way through its banking offering to trade finance and cash management, to sustainability-linked interest rate swaps and recycled PVC credit cards.
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HSBC has long dominated global trade finance but has also been at the forefront of digital innovation this year.
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The first three months of the year have been tough for many investment banking business lines, but Europe’s banks are putting up a good fight against the might of the US firms.
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The UK bank’s new fund aims to deliver metaverse-themed investment opportunities to wealthy clients in Hong Kong and Singapore.
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The rates sell-off is making it more expensive for high-yield and high-grade borrowers to access the bond markets. Maturities on offer are shortening, and it could be about to get much worse.
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HSBC’s head of global private banking in China, Jackie Mau, explains the lender’s onshore ambitions, the future of Wealth Connect, plans for new offices and how and why China differs from other private wealth markets.
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It might have the wind in its sails, but the bank will need to be nimble and smart if it is to find success in its three principle aims.
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More financial institutions are moving into the banking-as-a-service market to tap into demand from corporates looking to offer multiple payment options and enhance customer loyalty.
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Last week, four global banks unveiled cross-border wealth management services under the banner of Wealth Connect, but with the crisis at Evergrande unresolved and growth slipping, the scheme comes at a tricky moment.
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Many initiatives have promised to crowd in private capital through the catalytic effect of their own seed investment. Will this one work?
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Societe Generale’s decision to launch a joint treasury management solution with Kyriba is just the latest example of banks and technology vendors collaborating to offer more sophisticated treasury functionality.
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As FX traders ponder how the recent increase in coronavirus cases might affect the global economy, it appears they are spending even more time trying to second guess central bank thinking.
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Court documents relating to fraud charges against a young and flamboyant Singapore trader show that most of the country’s banks have had a relationship with him.
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Transaction services was affected by the pandemic in two significant ways. One was on the cash management side, where there was a forced acceleration of digital initiatives and of their take-up by corporate clients. That was interesting, but by and large it was happening anyway.
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It was yet another impressive year for HSBC in sustainable finance. At a global level the bank is committed to net-zero on carbon emissions. At a regional level it has a team of 39 staff, led by its head of sustainability, Europe and the Middle East, Sabrin Rahman. They engage with clients on ESG, sustainable finance and transition strategies.
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HSBC retains the award for best bank for transaction services for the third straight year thanks to its ability to adapt to the pandemic and the rapidly changing needs of regulators and its customers. In the Middle East that means being there when it matters. The bank processed $552 billion in payments and $54 billion in trade for 15,000-plus clients last year.
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Despite strong showings from peers including BNP Paribas and Citi, HSBC’s strength in sustainable finance is deep rooted and hard to match. Jonathan Drew’s team lifts this award for the fourth consecutive year.
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HSBC, with big operations in the UK and France as well as a presence on the ground in 20 markets across Europe, wins the award for the region’s best bank for small and medium-sized enterprises this year, against strong challenges from UniCredit and Santander.
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When Stephen Williams joined HSBC more than 20 years ago, the bank was a backmarker in Asian debt markets. When he retires next month, he leaves it top of the heap.
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HSBC’s new global wallet offering is the latest in a line of services enabling businesses to make and receive international payments from a single account.
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With the acquisition of 80 east coast branches and a slug of online deposits, Citizens has added even more firepower to its national expansion ambitions.
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The leading FX banks have introduced notable enhancements to their electronic trading platforms in recent months in an attempt to make them more attractive to traders that are still working away from their offices.
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Less charismatic chief executives will serve Europe’s banks well in the 2020s – unless it simply means that more power will reside with their chairmen.
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Euromoney’s 2021 trade finance survey reflects an unprecedented year for the industry.
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It has the backing of Prince Charles, as well as several big names in banking – but will the Financial Services Taskforce contribute anything new to the fight against climate change?
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Asset managers and owners are scrutinizing firms’ climate commitments like never before, as HSBC is discovering.
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UK bank urged to set timeline for fossil-fuel financing phase-out.
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Wong’s departure from HSBC, where she was head of Greater China, in August 2019 raised the questions of where could she be going and why. The answer is that she will succeed Samuel Tsien as OCBC’s chief executive. What does it mean for the bank?
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Every bank has had to balance Covid and geopolitics in 2020, but few have had it harder than HSBC
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The digital dividend dominated the cash management market in 2020. Corporates responded well to those banks that digitalized the services they needed to stay afloat in the choppy waters of a global pandemic.
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Investors and analysts had expected an insider to succeed António Horta-Osório, but new CEO Charlie Nunn could still be a continuity candidate when he is allowed to take his post.
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Euromoney’s futurologist Mystic Maca gets on a Zoom call with next year, when markets return to a version of normality.
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Across every sector and region HSBC stands out for its commitment to developing partnerships and products that will bring finance at scale to create a more sustainable and resilient planet.
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Covid-19 has not simply accelerated the push to digital but has also changed the nature of transaction banking itself.
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The new chief executive of HSBC had announced a big cost-cutting programme just before Covid hit. He was smart enough to pause it and encourage local staff around the world, even in locations where the redundancies were set to fall, to back their customers with quick loan decisions. Noel Quinn discusses the bank’s impressive response.
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Analysts hope HSBC will announce a more radical strategy shift when the bank posts half-year results on Monday. Executives at a bank caught between an irascible Chinese public and quarrelsome US politicians, might simply wish for better days ahead.
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Private sector digital adoption is surging because of the pandemic. The resultant efficiencies will partially offset pressure on profitability at the bank.
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DBS reaffirms its best bank status in the region in this year’s Euromoney Awards for Excellence.
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Saudi Arabia’s Al-Rajhi is named the region's best bank in this year’s Euromoney Awards for Excellence.
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HSBC has been central to maintaining imports of vital goods into the region, even while national borders slammed shut.
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HSBC retains its title as the Middle East’s best bank for transaction services for the second year running by stepping up to the challenge of helping customers trade and transact at a time of closed borders and supply-chain disruption.
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There is fierce competition in sustainable finance in Western Europe, but this year one bank stands out for its commitment across all the sectors and countries in which it operates and for its work on ensuring the needs of both environment and society are addressed.
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The list of deals from 2019 and 2020 – green bonds, social bonds, sustainability bonds and ESG-linked loans – goes on and on for HSBC in Asia under Jonathan Drew, managing director, sustainable finance.
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Year after year, HSBC quietly gets on with the key business of delivering crucial funding to clients whether they are looking to refinance debt, acquire an asset or rival, or just bulk up their balance sheet in the face of a once-in-a-century global pandemic.
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The London-headquartered lender has its roots and its future in Asia, and from the outset it was keen to provide staunch support to its customers across the region. It has been everywhere throughout the Covid-19 crisis, playing, in the words of chief executive Noel Quinn, a “massive role” in supporting communities and helping restore economic growth.
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The Middle East is a hard market in which to be truly sustainable, given the vast amount of money in the region that is tied to oil now and will be for some time.
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Crédit Agricole takes the lead in Western Europe in this year's Euromoney Awards for Excellence.
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In a transformative year for capital markets in the Middle East, HSBC stands out as the region’s best investment bank, reclaiming the title it last won in 2017.
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Supply chain disruption will create new challenges for transaction bankers and may lead to long-term changes in global trade patterns.
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HSBC’s strategy shift will see it deploy more capital, assets and risk to the region. The challenge is the same one it faced a decade ago: how to do more in China and southeast Asia. But the truth is that the bank is not as strong beyond Hong Kong as it should be
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Freshly empowered European bank chairmen are making perplexing lurches as they search for new chief executives. A random CEO generator might help.
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The interim chief executive unveils a radical three-year restructuring plan that makes abundant strategic sense but carries plenty of execution risk.
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HSBC launched its green deposit account in the first week of February with a deposit from a building materials company.
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The leading banks in Euromoney’s Trade Finance Survey 2020 comment on the highlights of the last 12 months and their expectations for the year to come.
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UBS Global Wealth Management retains the top spot; JPMorgan is a standout, too.
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Best Private Banking Services Overall Net-worth-specific services: Mega HNW (>$250m) UHNW (>$30mln-$250mln) HNW ($5mln-$30mln) Super Affluent ($1mln-$ 5mln) Capital Markets and Advisory ESG/Impact Investing Family Office Services International Clients Investment Management Next Generation Philanthropic Advice Research and Asset Allocation Advice Serving Business Owners Data Management and Security Innovative or Emerging Technology Adoption
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The senior management team at HSBC looks increasingly chaotic. It needs to fix that, before it can fix the bank.
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HSBC takes the top spot in Euromoney’s survey for the third year in a row.
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The country’s positive real interest rates shine like a beacon for international banks.
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The senior management team at HSBC looks increasingly chaotic. It needs to fix that, before they can fix the bank.
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It's that time of year again, when we round up what senior management said about your business line in their quarterly earnings calls.
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Asian private wealth is distinct from elsewhere in the world and must be served with a different model. Entrepreneurial wealth, changing digital delivery channels and gradual engagement with socially responsible investment all present challenges and opportunities for private banks in the region.
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Next year promises to be such an exciting year in banking that our resident soothsayer, Mystic Maca, couldn’t wait to share his predictions…
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While transaction banking is one of the most innovative areas of finance, there is competition from big tech - and gaining market share is tough in a fragmented industry. How can banks stay on top?
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The bank's global head of liquidity and cash management says: 'We need to stay on top of emerging trends.'
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Fixed income research consumers tell us which research teams have impressed them most during the past 12 months.
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Overall Credit Strategy Fixed Income Research (inclusive of all research) Actionable Trade Ideas
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HSBC retains the top spot in Euromoney’s cash management survey.
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European banks are trying to put a devastating series of money-laundering scandals behind them, but the crisis is far from over. The extra costs it implies are hitting them at the worst possible time, while the damage to their reputations will be even harder to repair.
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HSBC is stuck between several rocks and several more hard places.
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Former DWS head could shake up captive fund model after Flint’s exit.
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The lifers are being cleared out at a bank traditionally known for the long service of its senior management.
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Didn’t have time to go through your investment banking rivals’ results announcements? Don’t worry, we’ve done it for you, business by business.
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There are several banks in Asia that are deeply committed to helping the region continue economic growth but also to addressing the challenge of carbon intensity, but one bank in particular, HSBC, is working across the entire region across the spectrum – helping improve livelihoods and helping companies with their low carbon transition.
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Our review period embraced a curious 12 months of market performance in which bankers needed to be able to deliver a wide range of financing options to clients. Sometimes it needed high-yield debt, sometimes structured finance, sometimes just the protective arm of the balance sheet until brighter times arrived.
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With sustainability integrated in every business line, across geographies, with a commitment to innovation and standard setting, HSBC is central to the evolution of sustainable finance.
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The bank has put considerable effort into understanding the needs of SMEs. It is starting to bear fruit.
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As budget deficits have continued to put strain on many government balance sheets this year, the job of the public-sector banker is more important than ever.
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DBS named world’s best bank in Euromoney Awards for Excellence 2019; JPMorgan is the world’s best investment bank; Erste’s Treichl recognized as banker of the year.
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When it comes to supporting the transition to a low carbon future across the Middle East, one bank is leading the way – HSBC, which wins the award this year for the Middle East’s best bank for sustainable finance.
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Dethroning last year’s winner Standard Chartered was no easy feat, but HSBC accomplished it through strong growth and a renewed commitment to the region, which is headed by Martin Tricaud, CEO for the Middle East, North Africa and Turkey.
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Arab Bank named Middle East’s best bank in Euromoney Awards for Excellence 2019; EFG Hermes scoops regional investment banking award; Accad recognised for outstanding contribution to finance.
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Euromoney magazine has released the results of its 41st annual foreign exchange survey, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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HSBC wants to triple both onshore and offshore revenues, profits and ebitda in Brazil within five years.
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As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May Asia focus.
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Pricing new issues on intuition and market feel is ancient history – artificial intelligence and algorithms are setting the market price for credit, using factors and correlations humans can guess but not follow. Is AI the latest black box risk that will bring illiquid credit markets low or could it make them more efficient?
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As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our April capital markets focus.
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As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our April capital markets focus.
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The region’s leading banks produce some of the best numbers in the global industry, and success in retail banking – and a hard-learned approach to risk management – are core; could the growth of digital banking bring a new era of change?
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Staying committed to a region where deal flow sometimes stops overnight is tough for an international investment bank. Local firms and the few foreign competitors that have stuck around hope to benefit from any upturn in business. The in-and-outers might find it hard to get back.
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Having tested HSBC FX Everywhere on internal payments, the bank now aims to provide it as a platform service to clients.
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New chief executive John Flint has bought himself some breathing room to deliver the bank’s return-to-growth mode
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There are only two truly global, fully fledged cash management banks today, but the digital arms race in transaction services gives far more banks the opportunity to be world class.
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For the first time since HSBC’s acquisition of a Mexican bank in 2002, its franchise is enjoying positive momentum. Country chief Nuno Matos says more customers and a new culture are key to getting the bank’s market share back.
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Managing director, Infrastructure and Real Estate Group Asia at HSBC
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Any important new market needs its innovators, cheerleaders and pioneers… As banks try to build more responsible and sustainable businesses, these are the champions of impact banking at 10 of the world’s biggest firms. From green and blue finance to financial inclusion and social banking, they are leading the way and setting an agenda for others to follow.
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HSBC maintains its dominance of the cash management industry.
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Fixed income research consumers tell us which research teams have impressed them most over the last 12 months.
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Fixed income research consumers tell us which research teams have impressed them most over the last 12 months.
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The last instalment of our results analysis looks at banks’ markets businesses
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With HSBC having reported on Monday, the last of the 2Q18 results are in for the 12 main global corporate and investment banks; now for part 1 of our number-crunch
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The UK Treasury’s inquiry into economic crime has identified fragmentation and inconsistency within the current anti-money laundering (AML) regime, while the high volume of suspicious activity reports is proving overwhelming for the regulators. But new technologies could be the light at the end of the tunnel.
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Deal-management app promises to transform the new issue process, bringing much-needed efficiency to absorbing investor feedback and roadshow management.
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For our best bank for sustainable finance award, HSBC edges BNP Paribas and BAML for the range of its deals and its involvement in industry bodies that are furthering sustainable finance.
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Those behind blockchain-based trade finance platform we.trade, which completed its first round of transactions this month, have acknowledged that banks will have to support multiple platforms to offer a rounded digital trade service.
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Bank of America and Citi win top prizes; Credit Suisse’s Tidjane Thiam is named Banker of the Year; Asian banks make their mark in global awards.
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In a world of rapid change, especially technological advances, one bank has not just simply adapted, it has thrived.
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As treasurers see changes across the digital and regulatory landscape, they are also grappling with the arrival of new legislation. So having a strong footprint in multiple markets can be invaluable for a bank when clients are coming for advice. Those who are customers with HSBC, North America’s best bank for transaction services, are seeing the advantages.
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The bank has shown leadership in digital simplification and delivering innovative solutions to clients.
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Whether in Europe, Africa, Latin America, China or the Middle East, in advisory, liability management or financing, HSBC seems to have been present everywhere in the public sector in 2017 and 2018.
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This award goes to HSBC for its transformation of HSBC Mexico. As Euromoney has reported a number of times in recent years, the weak performance of the bank – coupled with the wider strategic retreat of the bank from some Latin American retail markets – had led to expectations that it would be sold.
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Technology is rapidly transforming the payments landscape for corporates and retail customers alike, and the systems that gain traction tend to be those that give consumers better visibility of their money – or make their lives easier in other ways.
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Kevin Rodgers gives his personal views on the trial and conviction of FX banker Mark Johnson and its ramifications for global markets. Anyone working in banking should consider what it means for them.
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Euromoney magazine has released the results of its 40th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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A soybean trade between two arms of Cargill using letters of credit from HSBC and ING shows the R3 Corda platform is finally set to scale up.
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A rebound in equity issuance and the continued rise – from a high base – in DCM issuance, helped offset lower regional M&A volumes last year, as international yield hunters helped sovereigns and government-related entities offset the decline in petro-dollar flows.
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Emirates NBD wins award for the Middle East’s best bank; Citi scoops regional investment banking category; winners demonstrate commitment to areas such as digital transformation, SME lending and corporate social responsibility across the region.
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The threatened imposition of US-China trade tariffs this week is the most obvious sign of increasing protectionism, resulting in a push towards regional trade, but with consumers prioritizing speedy delivery, the move to source locally has other drivers.
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Next month, all UK employers with more than 250 workers must disclose the gender pay gaps for both salary and bonus.
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UBS Wealth Management voted best global private bank; private banks more bullish on revenues; hiring to increase.
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Equities is a business where only the top handful of banks traditionally make money. It is also a sector with shrinking volumes and revenues. So why are two banks outside the top tier – Citi and HSBC – trying to boost their franchises?
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‘Budgie’ always made his passion for cycling clear during his banking career.
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The results of the Euromoney Trade Finance Survey 2018 show the emergence of two very different trends: the sustained presence of the global trade finance bank, and the rising influence of regional institutions.
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HSBC rises to the top of trade finance.
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The impediments to providing more trade finance to emerging-market clients are well known, but that does not make them any easier to overcome. Could the ultimate solution be in turning trade finance into an attractive asset class for institutional investors?
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Tucker and Flint must not squander Gulliver's legacy at HSBC
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Outgoing chief executive was determined to leave HSBC without the deferred prosecution agreement (DPA) continuing to loom over the bank’s entire business and reputation.
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Attempts to refocus the global banking division led to culture clashes at an institution that is notoriously hard to bend to an individual’s will.
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The moment has finally arrived – bankers have grown old waiting for it, but on Friday they learned they will soon be permitted to own majority stakes in securities companies in China. Good news for every international investment bank – except one: HSBC.
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HSBC’s next chief executive must quickly show he’s the man to take the bank forward.
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The conviction of former HSBC trader Mark Johnson for front-running a customer FX order could transform the way dealers hedge client trades – and how they communicate with each other.
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At first glance Euromoney’s global cash management survey 2017 results suggest that it is business as usual, but digging a little deeper into the rankings reveals that some regionals are setting new standards in quality of service.
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After years of discussion and an agonizing wait for regulatory approval, HSBC’s securities joint venture in China – the first to have majority foreign control – is approaching launch. Senior figures explain the process and what the JV will look like.
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To Gordon French, head of global banking and markets for Asia Pacific at HSBC, Belt and Road is “a supercharger.”
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Climate change finance for the V20 and other vulnerable states will need innovative thinking. It turns out plenty has already taken place, including a detailed proposal to bring funding to those who can’t raise it independently.
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HSBC holds top place in both the global financial institutions and non-financial institutions results; global banks dominate but regional banks continue rise.
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Euromoney magazine has released the results of the 2017 Fixed Income Research Survey.
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Banks are learning about the damage that being on the wrong side of environmental issues can cause.
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No matter where head office is based, Euromoney’s best regional bank, HSBC, is fundamentally about Asia. In 2016, the region contributed $10.6 billion out of global profit before tax of $17.3 billion – two thirds of the pie.
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Euromoney has never before given an award in Afghanistan, but the story of Azizi Bank is compelling. Formed by an ethnic business group in 2006 and owned by Dubai’s Azizi Group, it took over the Development Bank of Afghanistan from the central bank in 2009, then India’s Punjab National Bank in 2014. It is Afghanistan’s largest commercial bank, with more than 140 branches and a million customers, and employs 2,300 people, 17% of them women, which does not sound a lot but matters in Afghanistan.
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Have HSBC and Citi found a way to cut costs and maintain revenues in Latin America? If so, local banks will not accept that quietly.
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With Brexit now upon us, as warnings abound of the damage it will inflict on the UK economy and the country’s financial sector, Euromoney follows its instincts and puts two British banks on our short list to be recognized as the world’s best.
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Euromoney names HSBC as the World’s Best Bank and Morgan Stanley as the World’s Best Investment Bank; UniCredit’s chief executive Jean Pierre Mustier wins Banker of the Year award.
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Euromoney challenges Stuart Gulliver over his active management of the HSBC portfolio and why he has not exited retail banking in more countries, given that retail banking is a scale business, which HSBC lacks everywhere outside Hong Kong and the UK.
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Financing, and particularly debt, is one area where European investment banks can still have a grip on their home markets. Many are already reaping the benefits of having shifted to a more capital-efficient deployment of their balance sheets.
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The bank’s expertise in debt capital markets and transaction banking have helped it excel in emerging markets this year.
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Stuart Gulliver’s six-year transformation of HSBC has created a global bank that works, rather than one that merely exists. And through that process, the bank has continued to deliver impressive returns.
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It might not have the same level of market presence across North America as some of its international competitors, but HSBC’s push forward in the region over the last 12 months has secured it Euromoney’s award for North America’s best bank for transaction services.
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As Stuart Gulliver’s time as chief executive of HSBC runs down, the moment has come to acknowledge his achievement in managing the remarkable transformation of one of the world’s biggest, most complex banks. Once a diffuse portfolio of unconnected banking franchises, it now starts to look much more like the jewel it should be: a properly managed network that can serve customers and reward shareholders by handling global trade and capital flows.
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HSBC’s Sino-foreign joint venture has been approved at last, almost two years after the project was announced. It is the first such venture to have foreign control but what exactly has HSBC won?
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Wave of IPOs could propel ‘mid-sized’ banks; HSBC emerging as a potentially serious player.
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Overall market share Overall banks only Overall non-bank liquidity providers only Spot/forward market share Swap market share Options market share Emerging market currencies market share
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Euromoney magazine has released the results of its 39th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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As in much of the Gulf, banking conditions in Bahrain were difficult over the last year. Despite these challenges, Ahli United Bank did well.
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The region’s investment banking market, as ever, remains more tilted to the Gulf, which has recently been less active in blockbuster sovereign wealth-fund M&A mandates and more vigorous in public-sector financing as the lower oil price has bitten.
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Commercial International Bank wins region’s best bank award; winners reflect year of reform and easing bank liquidity; record year for Gulf debt capital markets sees HSBC retaining investment-banking title, while local and international banks do battle for regional and domestic awards.
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HSBC sees new lending opportunities in the increasingly digital exchange of purchase orders and invoices between big companies and their smaller suppliers.
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Lost amid disappointing 2016 results, HSBC’s Global Banking and Markets (GB&M) division has already hit the group 10% return on equity (ROE) target and holds out hope for more to come.
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Who’s leading the field? Who’s coming up on the rails? Which outsiders are worth ranking? The race is on for one of the biggest jobs in global banking… or is it?
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Attempts to build a North America business have left egg on the faces of many senior HSBC executives, but now, with two key differentiators – its big balance sheet and global network – it may have figured out how to be an investment bank in the US.
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Some of Europe’s biggest banks have joined behind KBC’s blockchain prototype to help SMEs increase trade across the continent.
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More than 2,000 private banks took part in the 2017 Euromoney private banking survey. See who’s up and who’s down globally, regionally and by country.
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UBS Wealth Management voted best global private bank; new regional winners; private banks less bullish on revenues; non-bank competition a minor concern.
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For a non-US bank to be a success in the US, it has to get its ambitions right first.
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Deutsche Bank held onto its global trade finance crown for the third year running, but it lost out in some of the regional placings. The 2017 survey attracted nearly double the number of voters compared with 2016.
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The world seems to be turning away from globalization and towards protectionism. Yet despite this challenging environment for trade, the bankers who finance it remain surprisingly upbeat.
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The long-awaited tie-up between HSBC and Shenzhen Qianhai Financial Holdings still seems to be nowhere in sight.
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Citi seeks to commit to Mexico after Latin America withdrawal; HSBC injects capital but commitment questioned.
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Results index Global All transactions 2016 2015 Bank Score 1 2 HSBC 6548 2 3 Citi 3830 3 1 Deutsche Bank 3116 4 13 Bank of New York Mellon 1728 5 14 Sumitomo Mitsui Banking Corporation 1536 6 8 JPMorgan 1534 7 5 Commerzbank 1359 8 4 Bank of America Merrill Lynch 1339 9 6 Standard Chartered 1305 10 7 Barclays 1303 11 9 Bank of Tokyo-Mitsubishi UFJ 1209 12 32 Industrial & Commercial Bank of China 1057 13 45 DBS Bank 1045 14 12 Wells Fargo 823 15 11 Bank of China 817 16 19 Societe Generale 721 17 18 Mizuho Bank 692 18 16 UniCredit 607 19 21 ADCB 605 20 15 RBS 535 21 10 BNP Paribas Fortis 504 22 Cathay United Bank 501 23 22 Yapi Kredi 355 24 UOB 352 25 ANZ Banking Group 340 26 23 ING Group 265 27 35= Agricultural Bank of China 251 28 29 Akbank 250 29 17 RZB 223 30 137= Bank Mandiri 218 31 42 Arab Bank 194 32 39 Bank of Communications 193 33 28 UBS 189 34 ATF Bank 188 35 208= Bank Central Asia 182 36 BNI 46 162 37 CIMB 156 38 38 Danske Bank 152 39 65= Banco BPI 144 40 208= Bangkok Bank 132 41 Siam Commercial Bank 126 42 40 Credit Agricole 122 43 34 BBVA 118 44 Hang Seng 116 45 41 Lloyds 114 46= 27 Garanti Bank 110 46= 74= Bancolombia 110 48 Bank Danamon 107 49 NAB 106 50 Bank of Nanjing 103
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While HSBC scores a notable double in Euromoney’s annual global rankings, the record response rate of almost 35,000 validated votes generated a host of changes at the upper end of our cash management survey. Regional banks move to the fore and some previous global leaders have dropped back.
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Almost 35,000 companies and financial institutions vote, a record response rate; HSBC wins globally for both client sectors; and there are big changes at the upper end of cash management survey, with regional banks to the fore and some once global leaders dropping back.
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Asian developers dominate the 2016 Euromoney real estate survey, but the biggest changes are revealed among the global banks providing real estate finance.
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HSBC global banking and markets vice-chairman and architect of its transformative capital financing model Spencer Lake has decided to leave the firm, Euromoney has learned.
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UK commercial real estate’s post-Brexit shock has proved short-lived, and high-profile gating of investors in a number of UK real estate funds did not precipitate a flood of copy-cat behaviour. But the long-term outlook for investors and lenders in UK real estate remains extremely uncertain.
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Banks are stepping up their offerings as the divide grows between corporates with plenty of liquidity and those struggling.
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The case against two HSBC employees for front-running a foreign exchange order from a client could hasten the death of the principal model for FICC trading by banks. A shift to an advisory-based approach is possible, but banks will struggle to make up lost revenue.
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When HSBC’s former head of global FX cash trading Mark Johnson learned that he had a window of just over 30 minutes to move the sterling exchange rate and profit from an approaching client trade, he said: “Ohhh f***ing Christmas,” according to US prosecutors.
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Credit growth and positive margins offset Trump risks; HSBC Mexico still failing to flourish amid sale rumours.
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Results index HSBC’s power in debt financing, allied with the strength of its balance sheet, is well known, but Stephen Williams’ capital financing team was no one-trick pony during our review period. It handled equity or equity-linked deals in Korea, Singapore, Taiwan and India as well as many of the deals that mattered most in Greater China. Among them were the $2.115 billion IPO of China Reinsurance and $2.54 billion IPO of China Huarong Asset Management which collectively re-opened regional equity fundraising markets in October. VRL Logistics in India was one of the most successful IPOs from the country for years.
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These are miserable times in Australian banking, which is suffering issues ranging from banking culture to credit quality as the commodity cycle ends. Commonwealth Bank has reputational issues around its CommInsure unit, while both ANZ and Westpac are under investigation for rate manipulation.
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Results index If you wanted to identify the moment HSBC became an unarguable candidate for the best investment bank in Asia award, it was when the bank was mandated on the devilishly sensitive reorganization of Cheung Kong Holdings and Hutchison Whampoa. In years past, the advisory mandate would have gone elsewhere, probably straight to Goldman Sachs; HSBC would have been called in at the last minute for its balance sheet and perhaps a bond takeout. This time, HSBC led the deal the whole way through and won widespread acclaim for it, including from its peers.
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Banking in Argentina has been challenging in recent years. Increasingly stringent regulation has required banks to lend to certain segments at capped interest rates, while high inflation has complicated other transactional business. The banking system has, by and large, coped well with the poor business environment, and now (in private) bankers are optimistic about the money to be made in the country – from mortgages and retail lending to corporate loans, securitizations and capital markets.
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Euromoney names BNP Paribas as the world’s best bank and HSBC the world’s best investment bank for 2016; BBVA’s Francisco González is banker of the year and completes a great night for Europe.
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This year marks the 25th anniversary of the Euromoney Awards for Excellence. They were the first of their kind in the global financial publishing industry. The nature of the global banking industry is constantly changing, and this year we made fundamental changes to the categories to reflect this.
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Banco de Credito del Peru is named as the best bank in the region; Citi retains investment banking award.
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Results index The theme in Latin American investment banking has been rationalization over the past 12 months. In particular, this has created difficulties for those spreading the good word about HSBC in Latin America in recent years. It might surprise those outside the region, therefore, that HSBC wins the award for best bank for financing in Latin America.
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This bank is pushing its corporate franchise further and deeper than ever before, becoming a core universal banking partner to many of the world’s biggest companies.
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World's best investment bank: Global investment banks have spent the years since the global financial crisis trying to develop diversified and differentiated businesses. Few have succeeded. Quietly, but impressively, HSBC has stuck to its long-term strategy in global banking and markets and built just that. That division, led by Samir Assaf, with the backing of group CEO Stuart Gulliver, delivers impressive returns in difficult markets. And it is increasingly there for its clients on the high-profile deals where you would not have expected it.
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Emirates NBD wins region’s best bank award and named best digital bank in Middle East; HSBC retains best investment bank crown; New regional winners highlight growing breadth and depth in Middle East finance; CIB’s Hisham Ezz Al Arab wins outstanding contribution accolade.
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Best bank in the Middle East Emirates NBD Best investment bank in the Middle East HSBC Best digital bank in the Middle East Emirates NBD Best bank for financing in the Middle East Citi Best bank for advisory in the Middle East Barclays Best bank for markets in the Middle East National Bank of Abu Dhabi Best bank for transaction services in the Middle East Abu Dhabi Commercial Bank Best bank for wealth management in the Middle East Audi Private Bank Best bank for CSR in the Middle East Arab African International Bank Best bank for SMEs Bank of Alexandria Best bank transformation Al Ahli Bank of Kuwait Outstanding contribution to financial services Hisham Ezz Al Arab . Country Awards for Excellence 2016: Middle East Awards for Excellence Middle East press release
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Citi retains top ranking while Deutsche plummets; JPMorgan and UBS rise; top five market share at all-time low; non-bank FX providers make an impact on rankings.
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Hiring is a coup for HSBC as it tries to build on success of simplified structure in growing GBM division.
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With the bank’s HQ distraction now over, disappointing results have switched attention to the CEO.
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UBS Wealth Management voted best global private bank; revenue outlook dimmer this year; asset management competition heats up.
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Extended results can be viewed here.
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For many of the largest private banks 2015 was a year of restructuring and geographical retrenchment. Only a few global players remain. This year looks set to be just as turbulent, but will clients put up with yet more change?
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Trade Finance Survey 2016 full results Global 2016 2015 1 1 Deutsche Bank 2 2 UniCredit 3 3 Citi 4 4 HSBC 5 5 Commerzbank 6 14 Société Générale 7 12 RBS 8 6 Standard Chartered 9 20 ING 10 10 Santander
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Survey attracts more than 2,000 votes as biggest players hang on to top spots
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Deutsche Bank retains its position as the leading global trade-finance bank in this year’s Euromoney survey. The German bank and overall runner-up UniCredit also dominated the results by region and by product.
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It was the weakest year for global trade since the financial crisis. Trade-finance margins and volumes fell in 2015, while bank competition and industry costs jumped. Euromoney surveys the fallout.
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HSBC latest to pledge green bond investments; Barclays hits £1 billion target and promises more.
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Survey pulls in 27,000 responses from across financial institutions and non-financial institutions.
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View full results index
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Quietly, but forcefully, the bank is getting its message across to UK government and regulators.
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Investment banking rivals may scoff, but HSBC’s Asia shift could prove a canny piece of business.
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The bank excelled in all the key areas of primary market issuance across the emerging markets
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George Osborne acknowledges that a bank levy based on global assets risks damaging the UK, but his solution might not appease HSBC.
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California’s new treasurer picked his target when he made an example of the foreign bank but the domestic players have been warned.
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QNB named best bank in Middle East, HSBC dominates investment banking categories, in Euromoney Awards for Excellence Middle East 2015
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The $5.6 billion of fines handed out to six leading foreign exchange banks will not be the end of the crisis afflicting FX, but it might be the beginning of the end. The people at the top of the industry are starting to think more deeply about what will drive success in the FX markets of the future. How can foreign exchange rebuild its zest, and its reputation?
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The headline results of Euromoney's 2015 foreign exchange survey show the leading banks have been remarkably consistent, despite the upheavals in the sector. But, beneath the surface there are changes that will transform the competitive landscape of the industry. Deeper analysis of the survey results demonstrates that’s already starting to happen.
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Citi retains top spot in Global FX as clients execute more than half electronically for the first time
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HSBC hired some 500 people in its transaction banking business last year and expanded its mobile offering. The bank's global head of payments and cash management Diane Reyes reflects on some of the lessons learned.