Sandy Flockhart, the former chairman of HSBCs operations in Europe, the Middle East and Africa, is to retire as a non-executive director of HSBC Holdings plc and from his position as chairman of HSBC Bank plc on 31 July 2012.
A UK taxpayer is to pay some £830,000 in back tax, fines and costs to the UK tax authorities after being found guilty of using an undisclosed HSBC account in Switzerland to hide his money, in HM Revenue & Customs’ first successful prosecution to be based on information obtained from HSBCs Geneva branch in 2010.
HSBC Holdings, the London-based banking giant, has sold stakes in two Indian banks for around $425m.
The merger of HSBC Oman and Oman International Bank (OIB) to form HSBC Bank Oman has been officially approved and began its operations on Monday this week.
The value of banking deposits in Guernsey are more than 10% less than they were at the end of the first quarter of last year, according to figures released today.
HSBC Global Asset Management last night held its inaugural annual quiz, hosting major players from the international financial services industry.
HSBC Private Bank is to close its Jersey office, amalgamating its Channel Island operations into its Guernsey branch.
HSBC Holdings, the London-based banking giant that has been shedding regional operations for months, said today that it is in talks aimed at selling its operations in Colombia, Peru, Uruguay and Paraguay.
HSBC Saudi Arabia has launched its first sukuk fund, a Shariah-compliant fixed-income product, for the countrys retail market.
HSBC Global Asset Management has launched the HSBC Asia Focused Income Fund, a fund which aims to capture growth in the region through investment in a mixture of asset classes.
HSBC Bank Middle East, a wholly-owned subsidiary of HSBC Holdings, has entered into an agreement to merge its Oman branch and HSBC Oman with Oman International Bank.
The Hongkong and Shanghai Banking Corporation Limited (HSBC), the wholly-owned subsidiary of HSBC Holdings plc, has confirmed that it is in discussions concerning a possible sale of its retail banking and wealth management business in Korea to The Korea Development Bank, a member of the KDB Financial Group.
