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HSBC is moving top executives from London to Hong Kong CNN 2 hrs ago By Hanna Ziady, CNN Business © Chan Long Hei/Bloomberg/Getty Images People stand in front of the HSBC Holdings Plc headquarters building, temporary closed due to the coronavirus, in Hong Kong, China, on Wednesday, March 17, 2021. HSBC's main Hong Kong office was closed until further notice after three people working in the building tested positive for Covid-19 amid a renewed wave of infections among the citys business and expatriate community. Photographer: Chan Long Hei/Bloomberg via Getty Images HSBC w...

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HSBC Doubles Down on China, Asian Markets Amidst Criticism by US, UK After aligning with the Chinese Communist Party (CCP), there’s no turning back. Having faced criticism in the UK and the United States for endorsing the national security law forced upon Hong Kong by the CCP, global banking giant HSBC is now doubling down on China and the Asian market. The London-based international bank announced during its fourth-quarter earnings call on Feb. 23 that it would accelerate its “pivot to Asia” by retrenching its retail presence in the United States and investing billions in growing its f...

Observers in Hong Kong have long speculated on whether or when HSBC would relocate its headquarters back to the city. Now, to accelerate its so-called "pivot to Asia", three of its top executives are expected to move from London to Hong Kong. That is perhaps the next best thing for the global bank, which now wants to reinvent itself as a regional bank. Asia - specifically southern China - is where the real money is. The rest of the world has...

City A.M. understands HSBC has not set a target figure for the number of job cuts. The news comes as plans to “pivot to Asia” gain traction at the bank. Some senior Canary Wharf staff will move overseas to the likes of Hong Kong as the HSBC seeks to accelerate its presence in Asia. Those executives are likely to include Greg Guyett, co-head of global banking and markets, Nuno Matos, chief executive of wealth and personal banking, and Barry O’Byrne, chief executive of global commercial banking. Relocating the bank’s top brass would mean business divisions that account for around 95 per...