Posts in tag
integrated banks
Breaking Up HSBC Wouldn’t Solve its Political Woes
HSBC, Europe’s most valuable bank, makes most of its money in Asia but is headquartered in the U.K. Now its largest shareholder, China’s Ping An Insurance, is pushing for strong measures to rectify this unwieldy arrangement—including a potential spinoff of the Asian business. HSBC is involved in a major restructuring effort to tilt its business …
Archegos Losses Top $10 Billion as UBS, Nomura Add to Damage
UBS, Switzerland’s biggest bank by assets, said it lost $774 million following Archegos’s implosion, a bigger hit than analysts expected, deepening the damage caused by the fund. Meantime, Japan’s Nomura, which flagged losses of around $2 billion last month, upped its total damage tally to $2.85 billion. This included a loss of 245.7 billion yen, …