HSBC Archives - The Industry Spread

HSBC London Initiates Massive Job Cuts Following CEO’s Departure

October 8, 2019

UK-based multinational banking, investment and financial services provider HSBC initiates its previously announced job cuts in the London branch. According to the updates released by the firm so far, the year ahead will see a reduction of total headcount in the firm by nearly 4% which in simple terms would translate to nearly 10000 jobs.

Noel Quinn Appointed as Interim CEO of HSBC Holdings as John Flint Resigns from the Firm

August 6, 2019

UK based multinational banking service provider HSBC holdings plc made an announcement recently stating that the group’s Chief Executive Officer John Flint is resigning from the firm in just 16 months after taking up the role as CEO. According to a statement released by the firm, this decision was made by John in a mutual agreement with the board members of the banking group. Flint took up the role as Chief Executive Officer of the group back in February of 2018 to succeed then group’s Chief Executive Officer Stuart Gulliver and also took up the role of Executive Director along with his responsibilities as CEO.

Brian Quinif Appointed as VP at HSBC Currency Desk 

June 29, 2019

Former VP of Nomura securities has now moved to HSBC Global Banking and Markets in New York as its FX Vice President. As per reports from financemagnets.com website, Brain joined HSBC earlier this month, but the report failed to mention since when did his tenure at HSBC exactly began. Brian is serving as Vice President of Currency Desk at UK based multinational bank. The move has also been confirmed by Brian given the fact that his LinkedIn profile has also been updated to indicate his current role and tenure at HSBC’s New York office.

MAS Bans Three Individuals for Fraudulent and Dishonest Conduct

April 12, 2019

The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against two former bank employees and a former insurance agent for fraudulent and dishonest conduct. The POs were issued against Ms Tang, Mr Nguyen and Mr Koh following their convictions in the State Courts of Singapore for offences involving fraud and dishonesty. The three court cases are not related. The ban against the three individuals took effect from 5 April 2019.

Asian Stocks Ended Neutral as UK Government Survives No-Confidence Vote

January 17, 2019

Asian stocks are ended the session neutral as concerns emerged by proposed US laws targeting Chinese telcos, including Huawei, could be damaging the Sino-US trade relations, while in Europe U.K. government survived a vote of no confidence in Parliament, Prime Minister  May said she had begun holding talks with leaders of opposition parties on how to progress with Brexit efforts.