Hsbc Share Discussion Threads

[bargainsniper] 29/10/2024 07:17

Thumbs up for the results

[action] 29/10/2024 07:15

Based on HK price 715p in uk

[suetballs] 29/10/2024 06:46

Looks all pretty good to me.
Suet

[fozzyb] 29/10/2024 06:26

Decent results and another buy back. Net interest margin narrowed. See how markets react but 3.5% higher in HK this morning.

[petersinthemarket] 28/10/2024 13:40

Paywall

EDIT: If you put the above link into archive.IS
you can read their archived version for free.
BUT, frankly, it isn't very helpful.
pete

[suetballs] 25/10/2024 14:29

Motor commission issues not helping the banks today.
Can't see the FCA doing anything but sitting on the fence and favouring Joe Public.
Suet

[suetballs] 25/10/2024 07:53

Looking forward to the earnings release next Tuesday. And the dividend just in time for Xmas.
With good numbers from nwg barc and lloy I am expecting something similar here.
Suet

[bargainsniper] 25/10/2024 06:39

When asked by Sky News if someone who works but also gets income from shares or property is a working person, Starmer said "they wouldn't come within my definition."

[action] 24/10/2024 00:01

HSBA East And HSBA West may be listed separately but will it unlock value? Anyone?

[spud] 23/10/2024 14:43

HSBC: The questions investors want answered on Elhedery's East-West splithttps://stocks.apple.com/ANYQNcIyvSt2kaCuKUYmuiQspud

[maxwellman62] 22/10/2024 19:49

Basically the structure then under Noel was deemed inadequate yet how much did he get in bonuses and shares ???

[action] 22/10/2024 15:18

Start of separate listing in HONGKONG AND UK....

[grupo guitarlumber] 22/10/2024 06:41

HSBC Holdings PLC HSBC announces simplified organisational structure
22/10/2024 7:00am
RNS Regulatory News

RNS Number : 0971J
HSBC Holdings PLC
22 October 2024


22 October 2024

HSBC HOLDINGS PLC


SIMPLIFIED ORGANISATIONAL STRUCTURE TO ACCELERATE STRATEGIC EXECUTION



HSBC Holdings plc (the 'Company') today announces that it is simplifying its organisational structure into four businesses to accelerate delivery against its strategic priorities.



HSBC Group Chief Executive Officer, Georges Elhedery, commented:



"The changes that we are announcing today will make it easier for our colleagues to serve our customers and drive the future success of the Group. The new structure will result in a simpler, more dynamic, and agile organisation as we focus on executing against our strategic priorities, which remain unchanged.



"I am excited about the opportunities ahead of us and firmly believe that this structure sets us up to deliver the next phase of growth. Our home markets of the UK and Hong Kong, together with our corporate and institutional banking as well as our wealth and Premier banking businesses, are the core strengths of HSBC.



"By making these changes, we can better focus on increasing leadership and market share in those businesses which have clear competitive advantage and the greatest opportunities to grow. This is how we will fast forward our plans to execute our strategy, unleash the full potential of the bank and ensure our talented colleagues can thrive, and deliver best in class products and service excellence, for our customers. When our customers succeed, so do we."



From 1 January 2025, the Company will operate through four businesses with clear lines of responsibility:



1. Hong Kong

2. UK

3. Corporate and Institutional Banking

4. International Wealth and Premier Banking



The changes will reduce the duplication of processes and decision making that are built into the current structure and will result in greater alignment and agility in serving our customers. The Group's functions will be realigned to support the four new businesses.



HONG KONG

Being the market leader in our home market of Hong Kong is one of our clear strengths as a business and remains a top strategic priority. The new "Hong Kong Business" will comprise "Personal Banking" and "Commercial Banking" under the business oversight of David Liao and Surendra Rosha at the Group Operating Committee, for both HSBC as well as Hang Seng Bank.



UK

Our UK ring-fenced bank has a leading market position in our home market of the UK and will continue to be a critical pillar of our strategy. The new "UK Business" will comprise UK "Personal Banking" (including First Direct and M&S Bank) and UK "Commercial Banking," including Innovation Banking under the sole business oversight of Ian Stuart.



CORPORATE AND INSTITUTIONAL BANKING

We are a market leader in global wholesale banking, especially in cross-border Transaction Banking, and in Capital Markets, underpinned by a strong balance sheet with an enviable deposit franchise. HSBC's global network remains a key differentiator of our business, with our presence in more than 50 markets.



We are creating a new Corporate and Institutional Banking business through the integration of our Commercial Banking business (outside the UK and Hong Kong) with our Global Banking and Markets business and with the geographic region of the Western Markets (comprising our UK non ring-fenced bank, Europe, and the Americas), which is a predominantly wholesale banking region.



Michael Roberts will lead Corporate and Institutional Banking and Western Markets.



INTERNATIONAL WEALTH AND PREMIER BANKING

One of our greatest strategic growth opportunities is in international wealth - particularly in Asia and the Middle East, capitalising on our established brand and heritage.



Our new International Wealth and Premier Banking business will bring together our Premier banking focussed businesses outside of Hong Kong and the UK, our Global Private Bank, and our wealth manufacturing businesses, Asset Management and Insurance.



Barry O'Byrne will lead International Wealth and Premier Banking.



GEOGRAPHIC GOVERNANCE CHANGES

As part of our new Group organisational structure, we are simplifying our geographic set up.



The "Eastern Markets" will bring together the Asia-Pacific region (APAC) and the Middle East region (MENAT) and will be overseen by David Liao and Surendra Rosha.



The "Western Markets" will comprise the non-ring-fenced bank in the UK, our Continental European business and the Americas and will be overseen by Michael Roberts.



NEW GROUP OPERATING COMMITTEE

In line with the more simplified structure, the Group Executive Committee of 18 members will be replaced by a new Group Operating Committee comprised of 12 members. The Group OpCo will serve as the leading decision-making executive committee of the firm.



These changes will be effective from 1 January 2025.



Further details will be announced alongside the 2024 Full Year results.



For and on behalf of

HSBC Holdings plc

Aileen Taylor

Company Secretary



HSBC Holdings plc

Registered Office and Group Head Office:

8 Canada Square, London E14 5HQ, United Kingdom

Web: www.hsbc.com

Incorporated in England with limited liability. Registered in England: number 617987



Note to editors:



Board of Directors

The Board of Directors of HSBC Holdings plc as at the date of this announcement comprises:



Sir Mark Edward Tucker*, Georges Bahjat Elhedery, Geraldine Joyce Buckingham†, Rachel Duan†, Dame Carolyn Julie Fairbairn†, James Anthony Forese†, Ann Frances Godbehere†, Steven Craig Guggenheimer†, Dr José Antonio Meade Kuribreña†, Kalpana Jaisingh Morparia†, Eileen K Murray†, Brendan Robert Nelson† and Swee Lian Teo†.

* Non-executive Group Chairman

† Independent non-executive Director



HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of US$2,975bn at 30 June 2024, HSBC is one of the world's largest banking and financial services organisations.



Media enquiries to:

Heidi Ashley [phone] [e-mail]


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END


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[ric0chet] 16/10/2024 14:06

Hopefully the very good earnings from US banks may give hsbc a boost

[action] 16/10/2024 09:28

Going down in up market ... strange

[tuftymatt] 15/10/2024 06:57

Let's hope you are right ACTION

Good luck all 👍🏻

[action] 14/10/2024 22:11

If China stimulus comes in drips... HSBA will be higher ie 700p+++ b4 dec24

[action] 13/10/2024 13:33

Bad omen.. I mean 666

[action] 13/10/2024 13:33

Exposure to China is dark cloud or blessings for China recovery. Take your pick.

[rampmeister] 12/10/2024 17:53

Not invested here but note this company currently qualifies as the holy grail for investors with the double 7. For the uninitiated this is a p/e and dividend both around 7. HSBC has offices in 50 major cities in China more than any other foreign bank. With the multi billion injection from Chinese government into their economy, does the team on this BB think HSBC will benefit?

RM

[supermarky] 11/10/2024 08:48

nearly back to the magic number 666

[anhar] 26/9/2024 13:06

I wasn't criticising the share, just that review. Happy to hold as it has been in my diversified port for many years. I invest only for income and recently increased my holding from a partial sale of much lower yielding BA. to much higher yielding HSBA, which will boost my income.