HSBC points to IT risks of proposed break up


HSBC points to IT risks of proposed break up

HSBC has warned of significant IT risks to the business should proposals by shareholder Ping An Insurance Group of China to break up the lender come to pass.

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Gareth Nicholson, Chief Investment Officer and Head of Discretionary Portfolio Management, Nomura International Wealth Management, James Cheo, Chief Investment Officer, Southeast Asia, Global Private Banking and Wealth, HSBC and Jean Chia, Managing Director, Head, Portfolio Management and Research Office, Bank of Singapore discuss Asia wealth management, forecasts, trends and managing risks with Bloomberg’s Mark Cudmore at the Asia Wealth Summit.

A trade recession cannot be ruled out at this point, says HSBC

Frederic Neumann, chief Asia economist at HSBC, discusses how the economic slowdowns of the United States, Europe and China might affect Asia exporters.

HSBC Should Move Back Home Base to Hong Kong, Politician Fong Says

Christine Fong, a Hong Kong politician who represents 500 small investors in HSBC Holdings Plc stock, discusses the prospects for the bank. HSBC executives and directors will meet their Hong Kong shareholders face-to-face on Tuesday. This comes as the bank faces calls from its largest single investor, Ping An Insurance Group Co., to consider a break-up. Fong supports Ping An taking board seats and for the bank to make Hong Kong its home base once again. She speaks on “Bloomberg Markets: China Open.”

HSBC’s Breakup Debate: Cites costs, risks in opposing calls to break up | Business News | WION

HSBC took pride in being the world’s local bank at one point of time but in reality it may get more localized if the proposal for bank to restructure itself and breaking up its business goes through.

#China #HSBCbank #BsuinessNews

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