Axa will acquire HSBCs property and casualty businesses in Hong Kong, Singapore and Mexico, the firm announced today. The French insurance giant has also signed an exclusive ten-year P&C bancassurance deal with HSBC in these countries, as well as in India, Indonesia and China.
HSBC has appointed a new head of wealth development for its Asia Pacific division.
HSBC Global Asset Management has appointed a new chief executive to lead its Singapore business, replacing Patrick Tse who has been in the job for two years.
HSBC Global Asset Management has opened up its RMB Bond Fund, a fund specialising in investment into offshore RMB-denominated fixed income securities, to retail investors in Hong Kong.
HSBC has launched high net worth (HNW) and institutional share classes for its Next Generation Fund, which invests in “new and upcoming hedge fund managers” and targets an annualised return of 12% to 15%.
HSBC has announced plans to expand its operations in mainland China, either through significantly increasing its number of branches or by raising its stake in Bank of Communications.
HSBC Private Bank has appointed Amit Gupta as its chief executive for southeast Asia. Gupta is expected to take up the position at the start of next week, replacing Nancie Dupier.
HSBC has displaced Bank of America as the worlds most valuable bank brand, according to the Brand Finance Banking 500 report, released today.
HSBC has entered an agreement to dispose of its Thailand-based retail banking and wealth management arm, and expects the deal to be completed in the first half of 2012.
The Emirates Securities & Commodities Authority (ESCA) is likely to become the wholesale regulator in the UAE, regulating life companies to IFAs, according to HSBCs Daniel Rudd.
A raft of advantages generally open to expats and the kind of jobs they do, means they are financially resilient despite the bleaker global economic outlook, it is claimed.
HSBC Bank International has today been renamed as HSBC Expat.
