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Retail Asia03/11/2021

The bank’s new online platform for corporate customers simplifies receivables collection and improves transparency and monitoring capabilities. HSBC Singapore is launching another digital solution for corporate customers – Dart, or the Digital Accounts Receivables Tool, which connects businesses to their customers by enabling the exchange of invoice and payment information, the bank said in a statement […]

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Retail Asia25/10/2021

A continued reduction of credit loss provisions fuelled HSBC’s pre-tax profits in the third quarter to comfortably beat analyst expectations. HSBC registered $5.4 billion of pre-tax profits in the third quarter, according to its latest earnings report, marking a 76 percent year-on-year growth. This marked significant outperformance compared to analysts’ forecasts of $3.78 billion, according […]

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Retail Asia21/10/2021

Deutsche Bank has hired a former HSBC executive as a managing director in its wealth management unit. Tse Yi-Mun joins Deutsche Bank Wealth Management as a managing director and group head for North Asia, according to a statement. Based in Singapore, she reports to North Asia head of wealth management Kanas Chan. Tse has 23 years of […]

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Retail Asia06/10/2021

The bank is enhancing its digital investment capabilities with a series of new solutions, including $0 commission stock trading, wealth coach and a revamped fund investment platform. HSBC has launched three digital solutions, including Trade25, Wealth Coach and the enhanced FlexInvest platform to better cater to millennials, a segment that accounted for nearly 50 percent of […]

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Retail Asia30/09/2021

The platform will provide debt financing for projects in Asia, with an initial focus on Southeast Asia, as part of efforts to reduce climate change. Temasek will be working with HSBC to catalyze financing of marginally bankable sustainable infrastructure projects, so as to address the challenges and opportunities presented by climate change, according to an announcement […]

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Retail Asia30/09/2021

The bank said the newly created role will help one of its key pillars of embedding its solutions into the digital platforms that its clients are adopting. HSBC has appointed Aman Narain as head of platforms for global commercial banking, a role in which he will lead its strategy, including the development, commercialization and innovation of propositions, according to […]

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Retail Asia15/09/2021

Lender HSBC has lowered its growth forecast for Vietnam from 7.1 percent to 5.1 percent given the ongoing fourth Covid-19 wave that has disrupted key economic activities. “The impact of the Delta variant as it spread across the country and in particular the economic heartland of Vietnam in the south meant a swift re-introduction of […]

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Retail Asia06/09/2021

HSBC is the latest to embrace hybrid working with plans to make it a permanent model for the bank worldwide. My own view on the return to office is it would be a waste if we didn’t learn from the last 18 months, said HSBC group chief executive Noel Quinn. The bank’s work-from-home embracement is […]

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Retail Asia25/08/2021

HSBC strengthens its sustainability-related capabilities in Southeast Asia with the appointment of a newly created role. Kelvin Tan has been named head of sustainable finance and investments, ASEAN, according to a statement, reporting to Singapore chief executive Kee Joo Wong. Based in Singapore, Tan will be tasked with supporting Singapore-based clients with their low carbon transition needs. He will oversee the […]

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Retail Asia24/08/2021

Major local lender Hang Seng Bank has named a new chief executive to replace Louisa Cheang, who will extend her leave of absence over medical reasons. Diana Cesar has been appointed chief executive at Hang Seng, according to a statement, effective September 1. Cesar joins from HSBC – Hang Seng’s top shareholder and parent – where […]

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Retail Asia12/08/2021

HSBC continues expanding its wealth management offering with the latest addition of a portfolio-based advisory solution. HSBC has launched its portfolio-based advisory solution Wealth Portfolio Plus (WPP) targeting its Hong Kong-based Jade segment – clients with $1 million or more in investable assets. Previously, HSBC Jade clients could only select individual products that are aligned […]

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Retail Asia09/08/2021

Assets under management at HSBC Private Banking climbed higher, driven in part by more than $9 billion of net new inflows in the first half of 2021. Asia assets under management at HSBC Private Banking grew 25 percent to $193 billion in the first half of this year, according to a statement, driven in part […]

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Retail Asia05/08/2021

HSBC is reportedly the latest global bank to join the Wall Street trend of increasing salaries for junior executives. Salaries of first-year analysts at HSBC’s investment bank will increase from $85,00 to $100,000, according to a report citing unnamed sources. The bank introduced pay rises for existing analysts and associates in May. London-headquartered HSBC joins a number […]

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Retail Asia04/08/2021

The bank has named a long-standing stalwart to enhance HSBC’s client proposition in Qatar. HSBC has named Ibrahim Al Abed as its head of private banking in Qatar, according to an announcement on Wednesday. Based in Qatar, Al Abed reports to Sobhi Tabbara, global market head, Middle East and North Africa, Private Banking, and Abdul Hakeem Mostafawi, CEO of […]

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Retail Asia03/08/2021

Standard Chartered Private Bank has expanded its Southeast Asia unit with the addition of a relationship manager from rival HSBC. Nipud Sud joins Standard Chartered Private Bank as an executive director and relationship manager, according to a note, effective August 2. Based in Singapore, Sud reports to senior client partner Suresh Nair who joined the bank in […]

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Retail Asia02/08/2021

Asia-focused British lender HSBC beat analyst forecast, more than doubling profits in the first half after a significant reduction in credit loss provisions. HSBC posted $8.4 billion of profit after tax, according to its first-half interim report, a 170% increase compared to $3.1 billion in the same period last year. The expected release of credit loss provisions […]

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Retail Asia16/07/2021

HSBC expects Vietnam’s economy to face challenges related to foreign exchange and interest rates in the second half of this year. Ngo Dang Khoa, head of global markets at HSBC Vietnam, said recent outbreaks of Covid-19 have sparked worries about production being interrupted for a long time, which would affect the country’s recovery. “With many […]

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Retail Asia15/07/2021

He will lead HSBC’s investments and wealth solutions team in Asia, which covers global private banking and wealth and personal banking. HSBC has appointed Stefan Lecher as regional head of investments and wealth solutions (IWS), Asia Pacific, with effect from 3 October 2021, according to an announcement on Thursday. He will be based in Hong Kong, reporting […]

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Retail Asia02/07/2021

She will succeed Virginia Devereux Wong, regional head of funds and ETFs, who will be leaving HSBC Private Banking at the end of June. Lina Lim, regional head of discretionary, Asia, will take on the expanded role of regional head of discretionary and funds, citing a HSBC spokesperson. In her new role, which combines Wong’s responsibilities, Lim will oversee discretionary, […]

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Retail Asia02/07/2021

HSBC has appointed a successor for the role of wealth and personal banking head in Malaysia after it was left vacant for three months. HSBC named Renee Bullock-Cann as head of wealth and personal banking (WPB) in Malaysia, according to a statement, succeeding Tara Latini who was named head of WPB in the U.S. in April. Bullock-Cann reports to HSBC […]

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