Worried about fine inflation Woodford sells HSBC
Neil Woodford has sold his recently acquired stake in HSBC, on the back of concerns about the growing number and size of regulatory fines faced by banks.
HSBC
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HSBC profits drop 12 amid regulatory
HSBC saw a 12% drop in profits throughout the first half of 2014, a loss it attributes to the investment of resources into “heightened and evolving” regulatory expectations.
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HMRC claws back 135m from leaked list of HSBC
HM Revenue & Customs has recovered £135m from 24,000 clients named on a list of HSBCs Swiss private banking operation, which were revealed in a leak by a former employee.
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HSBC Global AM offers Chinese RQFII
HSBC Global Asset Management has launched a fixed income fund in Hong Kong under the Renminbi Qualified Foreign Institutional Investor scheme.
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HSBC pulls assets out of cayman islands
HSBC is selling parts of its Cayman Islands corporate and retail banking business to Butterfield Bank.
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hsbc to end libya presence
HSBC is to close its representative office in the Libyan capital of Tripoli, according to the Telegraph.
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BlackRock UK Business granted RQFII licence
The licence is the firm’s second, the first was granted in March to its North Asia subsidiary.
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hsbc sells swiss assets to liechtenstein bank lgt
HSBC is selling a portfolio of its Swiss private banking assets to Liechtenstein bank LGT Group Foundation.
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HSBC Global AM unveils low volatility
HSBC Global Asset Management has launched a low volatility equity fund for investors in Hong Kong and Singapore.
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europe banks face rising fines bill
Europe’s biggest banks are facing estimated fines of $103.5bn from regulators around the world, according a briefing note from analysts at Credit Suisse.
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SCA rumoured to be planning fund regulation
An overhaul of the controversial UAE fund regime introduced by the Securities and Commodities Authority last year is on the cards, International Adviser understands.
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hsbc global am names bastos hk ceo
HSBC Global Asset Management has named Pedro Bastos it chief executive officer for Hong Kong and regional head of Asia Pacific.