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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings plc    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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Delayed Quote. Delayed London Stock Exchange - 11/27 11:37:28 am
404.85 GBX   +1.76%
06:16aUniCredit to hold extraordinary board meeting on governance - source
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06:09aUniCredit to hold extraordinary board meeting on governance
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11/28HSBC : considers exit from U.S. retail banking - FT
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HSBC Hires Former Credit Suisse Deal Maker for Vice-Chair Role -- Financial News

10/21/2020 | 10:08am EST

By Paul Clarke

Of Financial News

HSBC Holdings PLC has hired a former senior Credit Suisse Group AG deal maker, as the U.K. lender continues to make strategic hires for its investment bank amid a broader restructure of its business.

The bank has taken on Vikas Seth as a vice-chair within its global markets business, according to a memo sent by Greg Guyett, co-head of global banking and markets at HSBC. The memo was seen by Financial News. The role, which involves liaising with large clients to drum up deals without taking on management responsibilities, will see Mr. Seth focus on emerging markets.

He left Credit Suisse in February amid a broader reshuffle at the Swiss bank, which was looking to reinvigorate its investment-banking business after posting a loss in 2019. Mr. Seth was most recently global head of emerging markets within Credit Suisse's investment bank and has also held senior roles at Goldman Sachs Group Inc. He has also headed up the Swiss bank's M&A business for Europe, the Middle East and Africa.

Part of his remit will be developing closer links between HSBC's investment bank and its commercial-banking unit, a central theme of the U.K. lender's strategy. As part of an overhaul unveiled by its Chief Executive Noel Quinn in February, HSBC is merging the middle and back offices of its commercial and investment-banking units, and has tasked senior deal makers to look for ways of drumming up new business between the two divisions.

HSBC is in the midst of a strategic overhaul that will see around 35,000 jobs lost as it pulls back from noncore business lines, with some of its sales and trading units under review.

However, within its global banking business, the bank has continued to poach senior deal makers as part of an ongoing strategy by Mr. Guyett. He aims to bring in better investment bankers to take responsibility for winning a greater number of marquee transactions for HSBC. Mr. Seth will report into Mr. Guyett.

In June, HSBC hired Adam Bagshaw as global co-head of advisory and investment banking coverage from Deutsche Bank AG. He had been at the German lender for 14 years. HSBC also named Jan Laubjerg as global head of natural resources banking in September.

Website: www.fnlondon.com

(END) Dow Jones Newswires

10-21-20 1007ET

Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG 0.51% 11.715 Delayed Quote.-10.61%
DEUTSCHE BANK AG 0.71% 9.484 Delayed Quote.37.11%
DOW JONES AFRICA TITANS 50 INDEX -1.06% 501.92 Delayed Quote.-5.57%
HSBC HOLDINGS PLC 1.76% 404.85 Delayed Quote.-31.60%
S&P AFRICA 40 INDEX -0.87% 162.67 Delayed Quote.-5.02%
THE GOLDMAN SACHS GROUP, INC. -0.48% 235.4 Delayed Quote.2.87%
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More news
Financials (USD)
Sales 2020 50 046 M - -
Net income 2020 3 567 M - -
Net Debt 2020 - - -
P/E ratio 2020 31,5x
Yield 2020 1,77%
Capitalization 109 B 109 B -
Capi. / Sales 2020 2,18x
Capi. / Sales 2021 2,20x
Nbr of Employees 230 317
Free-Float 98,1%
Chart HSBC HOLDINGS PLC
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HSBC Holdings plc Technical Analysis Chart | HSBA | GB0005405286 | MarketScreener
Technical analysis trends HSBC HOLDINGS PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 24
Average target price 4,95 $
Last Close Price 5,39 $
Spread / Highest target 37,4%
Spread / Average Target -8,23%
Spread / Lowest Target -30,5%
EPS Revisions
Managers
NameTitle
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
John M. Hinshaw Group Chief Operating Officer
Ewen James Stevenson Chief Financial Officer & Executive Director
May Lung Cha Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
HSBC HOLDINGS PLC-31.60%109 333
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