Articles from HSBC

HSBC and the National Community Reinvestment Coalition (NCRC) announced a four-year, $25 million community growth initiative today, as part of HSBC’s broader strategy to drive responsible banking practices and promote financial equity across its U.S. footprint and designed to address concerns raised by NCRC.

HSBC US Head of Wealth, Premier and Global Private Banking Racquel Oden was awarded the London Stock Exchange Group Global Executive Leader Award at the 2024 Powerlist Black Excellence Awards.

From complex supply chains to unexpected global events, uncertainty is impacting the ability of business leaders and individuals to make confident decisions, according to a new HSBC global study, Seizing Uncertainty.

HSBC today announced increased welcome bonus points and new and enhanced benefits for the HSBC Premier credit card, designed for everyday spending, and the HSBC Elite credit card, designed to enhance lifestyle and travel experiences.

HSBC U.S. Wealth and Personal Banking Head Racquel Oden today announced that Carly Doshi has returned to HSBC as the new Head of Wealth Planning and International Connectivity. In this role, Carly will lead a team of wealth professionals who provide specialist advice for clients on income and estate guidance, wealth transfer, pre-immigration, philanthropy, family governance, family office advisory, and comprehensive financial planning matters.

HSBC U.S. Wealth and Personal Banking Head Racquel Oden today announced that Clark Pingree and Dufresne “Didi” Nicolas have joined the bank as Regional Market Heads for the West Coast and North regions, respectively. The hires are part of Oden’s new growth strategy focused on supporting international and high net-worth clients. She joined the bank in December as the new U.S. Head of Wealth and Personal Banking.

HSBC today announced that Danielle Johnson has been appointed Global Head of Institutional Client Group (ICG) within the Global Banking and Markets business. In this role, she will be responsible for strengthening the coverage of institutional clients, particularly Western headquartered clients, who conduct business globally. Johnson’s appointment is effective as of June 3.

HSBC today announced the inauguration of its new U.S. headquarters at The Spiral, a renowned office building in New York City’s Hudson Yards neighborhood, marking its largest U.S. relocation to date. This headquarter move, combined with investments in other offices across the country, reinforces HSBC’s position as a leading international bank with a commitment to New York City and its U.S. operations. In addition, the innovative design process for its Hudson Yards office space exemplifies HSBC's progressive approach to reshaping the future of work by fostering an empowering environment for clients and colleagues.

HSBC today announced the opening of its flagship wealth center at The Spiral in New York City’s Hudson Yards neighborhood. The new center is a key part of the bank’s wealth management strategy and will include wealth advisors dedicated to supporting high-net worth and ultra-high-net worth clients with a focus on individuals and families with international ties. The new flagship wealth center is part of a network of strategically positioned wealth centers across the U.S. to provide clients with access to highly specialized wealth and everyday banking services.

HSBC announced today the appointment of Andrew Fullam as Chief Financial Officer (CFO) for the US and Americas.

Techstars, the most active pre-seed investor in the world, today announced that HSBC Innovation Banking, the leading bank for the global innovation economy, will be its preferred banking partner for its global portfolio of startups. As part of this collaboration, Techstars portfolio companies will gain access to specialized HSBC products and services tailored to founders’ specific growth ambitions.

HSBC today announced a partnership with Google Cloud to accelerate climate mitigation and resilience through financing and support for companies in the Google Cloud Ready – Sustainability (GCR-Sustainability) programme.

A significant number of healthcare companies will face challenges raising capital in the coming year, leading to valuation re-sets and possibly consolidations, according to HSBC’s Venture Healthcare Report: Are we out of the woods yet? Despite venture capital available for investment, investment dollars declined 28%. For the best deals, however, capital remained plentiful with large rounds and valuation step-ups.

HSBC announced today that HSBC Innovation Banking, a business division with services provided by HSBC Bank USA, N.A. and its affiliates, has expanded its venture debt offering in the U.S. to support companies from Series A through scaled multi-national enterprises. While HSBC has been providing venture debt to later-stage innovation companies since 2019, this broader offering is aligned with the Innovation Banking strategy to work with companies at the earliest stages of their development. In addition to the venture debt offering, HSBC has developed banking packages tailored to meet the evolving needs of innovation companies as they scale from startups to highly complex multi-national businesses.

HSBC has launched its Global Private Banking (GPB) business in India to serve high-net-worth (HNW) and ultra-high-net-worth (UHNW) professionals, entrepreneurs and their families. The new business is aimed at clients with investable assets of more than $2 million.

HSBC today announced the launch of the HSBC AI Global Tactical Index (HSBC AIGT), which will use machine learning powered by Amazon Web Services, Inc. (AWS) in conjunction with equity investing. The HSBC AIGT index was developed by HSBC and leverages the artificial intelligence (AI) capabilities of AWS to carry out an AI-based index investment process.

New research commissioned by HSBC reveals how international investors are making both personal finance and investing decisions as they cross borders and move overseasꟷthe U.S. is the leading destination among international investors in our survey, with 27% investing there, followed by 20% investing in the UK. From an investing perspective, study findings showed:

HSBC U.S. Private Banking, part of the bank’s Wealth and Personal Banking business, announced today that it has selected Addepar, a leading technology platform purpose built for investments, as its consolidated client performance reporting platform. HSBC’s U.S. Private Banking serves domestic and international high net worth and ultra high net worth clients, as well as family offices, with $65 billion in assets under management.

HSBC is to launch a Banking as a Service (BaaS) offering that will enable customers to create and provide business banking services through their own platforms.

HSBC today announced that it will allocate $100 million in lending for companies that are founded and led by women and minorities through HSBC Ventures, which provides capital to startups and early-stage businesses around the world.

HSBC Group today announced the launch of HSBC Ventures, a new US-based business that will provide flexible capital to growth-oriented businesses around the world, furthering their innovation and expansion objectives. As part of this initiative, $100 million will be reserved for partners and clients who are developing climatetech solutions and supporting a net-zero global economy.

HSBC Global Commercial Banking today announced that Martin Richards has been appointed Global Head of Sustainable Finance – Client Infrastructure for Commercial Banking. In this role, he will focus on delivering market-leading sustainable finance solutions that support the full ecosystem surrounding our clients’ transition ambitions.

HSBC Latin American Holdings (HSBC, the Bank) initiated legal proceedings against the Republic of El Salvador for breach of its investment treaty with the United Kingdom, and seeks to recover at least $49.3 million in damages that the Bank alleges were wrongly awarded against it by the Supreme Court of El Salvador.

HSBC today announced the launch of the AI Powered Multi Asset Index (AiMAX) family, the first rules-based multi-asset investment strategy to use artificial intelligence (AI) as a method for constructing a diversified growth portfolio.