HSBC Gam targets advice industry sceptical of banks
Bank debuts model portfolio service for IFAs
Bank debuts model portfolio service for IFAs
The bank’s asset management arm builds out its global bonds team
HSBC’s commercial banking, retail banking and wealth management divisions perform strongest in the first half of the year.
HSBC’s $2bn share buyback programme failed to appease shareholders as profits over the first quarter disappointed.
Despite Brexit uncertainty and a more dovish tone from the Bank of England (BoE), many managers are arguing that now is the time to embrace the big four UK banks as a cheap, tactical value play.
HSBC has reported its 2017 full year profits were 11% higher than the previous year but this still fell short of analyst expectations.
HSBC’s profits in the third quarter were some $4.3bn higher than the previous year, largely thanks to its renewed focus on Asia.
HSBC Asset Management has launched four new global funds to the UK market in a bid to overcome investors’ “domestic bias”.
HSBC has reported higher profits over the first half of the year and announced a $2bn share buyback scheme, but investors remain cautious about the bank’s prospects.
The FTSE 100 smashed the 7,270 mark on Thursday morning after Shell reported earnings growth and HSBC’s profits beat analyst expectations.
Brewin Dolphin chief executive David Nicol and HSBC group chairman Douglas Flint have been made honorary fellows by the Chartered Institute for Securities & Investment, joining four other professionals.
HSBC shares spiked upwards by 0.87% to 627.6p in early trading as Mark Tucker was named the new group chairman designate at the banking group.