GlobalBanking

HSBC's CEO Targets $3 Billion in Cost Savings Through Major Overhaul

12 days ago

In a bold move aimed at enhancing operational efficiency, HSBC's CEO has unveiled a comprehensive overhaul plan that could potentially save the banking giant an impressive $3 billion. This strategic initiative comes as part of an effort to navigate the complexities of the current economic landscape while bolstering the bank’s profitability.

HSBC's New CEO Implements Significant Changes in Senior Management Structure

28 days ago

In a bold move aimed at reinvigorating the leadership landscape of one of the world's largest banking institutions, HSBC has begun a significant reorganization of its senior management ranks under the guidance of newly appointed CEO, Noel Quinn. This strategic reshuffle comes as Quinn seeks to navigate the bank through a series of challenges, including evolving market dynamics and increasing regulatory demands.

Major Delays Anticipated in Basel Regulations Finalization, Says Citi Chair

2 months ago

In a recent discussion attended by financial executives and policymakers, Jane Fraser, the Chair of Citigroup, painted a cautious picture regarding the finalization of the Basel III capital reforms. Fraser indicated that the completion of these significant regulatory changes is unlikely to be achieved before the new president of the Basel Committee on Banking Supervision takes office.

Citigroup Eyes Return to Japan’s Top M&A Advisers as Deals Rise

3 months ago

Citigroup Inc. is reportedly planning strategy in a bid to reclaim a position among Japan's top mergers and acquisition advisers as deal-making in the country heats up. This could not have come at a better time when mergers and acquisitions are heating up in the Japanese market, offering fat lucrative opportunities that the financial heavyweight does not want to miss out on.

HSBC to Exit South African Market with Sale of Unit to FirstRand

3 months ago

In one of the most significant strategic shifts, HSBC Holdings Plc announced it would sell its South African unit to FirstRand Ltd. This indeed has marked the bank's exit from the South African market. The sale is in line with the broader strategy of HSBC to focus on growth markets while divesting from regions the bank deems non-essential for its operations.

BBVA Expands London Team by 30% to Boost Investment Banking Division

3 months ago

The Spanish banking giant BBVA recently took a serious step towards expounding on its investment banking capabilities: increasing its London team by 30%. This underpins BBVA's commitment to strengthen its presence in one of the most important financial hubs in the world, with a broad goal of expanding its global investment banking business.