HSBC
Moody's Downgrades Ratings Of 15 Global Banking Groups
22 June 2012
Moody's Investors Service, the credit ratings agency, has downgraded the ratings of 15 global banks and securities firms that have global capital markets operations, citing the risks they face from volatile market conditions. All of the banks concerned operate substantial wealth management businesses . The firms’ ratings were cut by between one and three notches, reflecting the severity of the potential losses they may face.
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HSBC Global Asset Management Launches RMB Fund For US Clients
13 June 2012
HSBC Global Asset Management, part of the London-headquartered banking group, has launched a mutual fund for US investors to gain access to the Chinese currency. The HSBC RMB Fixed Income Fund provides US investors access to China's growing bond market and any potential appreciations in its currency, the firm said . It will be managed by the company's Hong Kong Asian fixed income team, which to-date manages some $29.
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Credit Suisse Completes Acquisition Of HSBC's Private Banking Arm In Japan
11 June 2012
Credit Suisse has completed its acquisition of HSBC’s private banking business in Japan, becoming one of relatively few non-domestic banks to take a serious tilt at a market dominated by local players. The purchase of the business was part of a strategy outlined by HSBC over a year ago in which that bank said it wanted to cut costs and sharpen the bank's focus on Asia by quitting countries or businesses where it lacks scale . HSBC’s gross assets in Japan were reportedly $2.
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Executive Moves - May 2012
5 June 2012
Washington Wealth Management’s chief executive and co-founder Anthony Sirianni left to pursue “other personal and professional interests,” the firm said. Robert Bartenstein, who previously served as chief of firm strategy, replaced Sirianni . Robert Kaplan, co-chief of the asset management unit at the SEC’s enforcement division, joined Debevoise & Plimpton as a litigation partner resident in Washington DC.
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Hong Kong Lehman Minibond Investors To Get 70 Per Cent Money Back
4 June 2012
Hong Kong investors of Lehman Brothers minibonds have been offered up to 70 per cent of their money back, as banks and accountants make a final attempt to settle on a payout figure, marking the end of a four year debacle. In 2008 the Wall Street lender's bankruptcy caused a slump in the value of the notes, triggering almost daily protests by Hong Kong buyers who claim they were missold . A reported 43,000 Hong Kong-based investors bought around $2.
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HSBC Eyes BRIC Returns This Year
28 May 2012
HSBC Asset Management predicts overall strong investment returns from Brazil, Russia, India and China this year despite anticipating continued volatility. Notwithstanding robust economic growth, investors pulled money out of the BRIC bloc last year as part of wider risk-aversion . Although the investment outlook has turned dire after a positive first quarter, the UK asset manager thinks the BRIC markets, made up of the world’s four largest emerging economies, can play an important role for investors in 2012.
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CEO Of HSBC Reiterates Revenue Goals, Repositioning Of Private Banking
25 May 2012
The chief executive of HSBC today reiterated the banking giant’s goal to capture an additional $1 billion in revenues in the short and medium term, above the $1 billion targeted a year ago, as it sees strong growth for referrals and cross-selling. Stuart Gulliver, speaking at the bank’s annual general meeting in London, listed as one of HSBC’s priorities the goal of restructuring the private banking business, “focusing our offer on diversification and investment opportunities in fast-growing markets . ” Like many of its peers, HSBC has been contending with the conflicting pressures of rising client demands, tougher regulations and bank capital standards, as well as uncertain markets in the West and stronger economic growth in the East.
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HSBC, Edge Fund Advisors Purchase "Trophy" NY Building
24 May 2012
HSBC Alternative Investments and Washington, DC-based Edge Fund Advisors have acquired a trophy office building in Manhattan, NY, for an undisclosed amount from Harbor Group International. Located at 4 New York Plaza, the building is – approximately - a 1 . 1 million square foot, 22-story office tower, 95 per cent of which is leased to tenants such as JP Morgan Chase, Daily News and American Media Operations.
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HSBC Shelves Plans To Move HQ Out Of London To Asia
22 May 2012
HSBC has “indefinitely” shelved plans to move its headquarters to Hong Kong from London, having previously threatened it would move East to avoid punitive financial regulation. Stuart Gulliver, the Hong Kong/London-listed bank’s chief executive, has decided the bank will not move its HQ from London . The bank paid $1.
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New York Investment Firm Hires London MD For Client Coverage
18 May 2012
Oak Hill Advisors, the New York-based investment management firm, has appointed Declan Tiernan as managing director within its London-based client coverage group. The appointment represents the firm's first hire of a client coverage specialist for the London office . Tiernan shares responsibility for managing investor relationships and marketing, and will focus primarily on investors based in Europe and the Middle East – regions which the firm said account for about 30 per cent of its $13.
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News and Features
Latest News
South Carolina Bank Inks Deals To Upgrade Wealth Management Offering
UK’s Aberdeen Confirms Commitment To US With Acquisition
Executive Departure At Citi Triggers Reshuffle; New CEO Of Private Bank
FINRA Fines LPL Over Email System Failures
Fremont Bank Names New Vice President Of Wealth Management
Comment and Analysis
EXCLUSIVE: Citi Private Bank: Reaping Rewards From Client Feedback
WE Family Offices Sets Out To Reshape The Landscape Of UHNW Wealth Management
FEATURE: A Look At The Mexican High Net Worth Client Market
EXCLUSIVE: Thomas Carroll On His First Few Months At The Helm Of GenSpring
EXCLUSIVE: Industry Leaders Debate Hot Topics Of Client Centricity, Communications
Expert Commentary
- Top Story
- Opinion of the Week
- Industry Insight
- View from the Top
- Editor's Choice
- Investment Strategy
BNY Mellon Lays Out Big Hiring Plans For Wealth Management
BNY Mellon Wealth Management is planning to double the size of its global sales force, as well as adding a raft of private bankers.
Harriet Davies
22 May 2013
Guest Opinion: An Earnings Report Every Hedge Fund Manager Should Review
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
Diane Harrison
20 March 2013
Q&A: Rockefeller & Co's Jimmy Chang On The Investment Environment
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
Harriet Davies
4 April 2013
INTERVIEW: Regular Risk Reviews Gain Traction In The Family Office World
The period between 2008 and 2012 saw an uptick in risk reviewing business at New York’s Rothstein Kass Family Offices Group, says partner Evan Jehle.
Harriet Davies
9 April 2013
FEATURE: Twins And The Business Of Family
Building functionality into a family’s business affairs involves defining each person’s role but it’s never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
Charles Lowenhaupt
8 April 2013
Guest Opinion: Diversification In The Age Of Globalisation
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
Marc Odo
25 March 2013
