HSBC Chairman Douglas Flint is underpaid, the head of the bank’s compensation committee said, as 21% of investors opposed its pay policy.
HSBC is one of the largest banking and financial services organisations in the world.
More than a fifth of HSBC's shareholders opposed the bank's pay policy on Friday in the latest show of anger that banks have not reined in bonuses enough in the wake of the financial crisis.
The European Commission has informed Crédit Agricole, HSBC and JPMorgan of its preliminary view that they may have breached EU antitrust rules by colluding to influence the pricing of interest rate derivatives denominated in the euro currency.
Banking group HSBC has attempted to head off investor criticism over a new pay plan, capping any share bonus for its Chairman Douglas Flint this year at £1m ($1.68m) and saying it would be a one off.
HSBC is in last-minute talks with shareholders to reach a deal over its chairman's pay and head off a damaging revolt at next week's annual general meeting.
HSBC's profit fell in the first quarter of the year as lower retail banking fees and difficult global markets trading hit the bank's bottom line.
The Bank of England is preparing to order eight of the UK's biggest banks and building societies to ensure they are strong enough to withstand sharp drops in house prices and sudden rises in interest rates.
London's biggest and most expensive office building, HSBC Holdings' global headquarters, is up for sale and could fetch more than £1.1 bn ($1.85bn), according to a report in the Financial Times.
HSBC has made some progress in improving its anti-money laundering program as required by a 2012 deferred prosecution agreement with the U.S. Justice Department, but there remains 'much work to be done', federal prosecutors said in a Tuesday court filing.
Royal Bank of Scotland faces a tougher challenge selling its U.S. subsidiary after the unit failed the Federal Reserve’s stress test.
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JPMorgan and HSBC topped the list of the world's top 29 banks that must hold extra capital from 2016 because of their size and reach, the Financial Stability Board (FSB) said on Monday.
Here's the results for the Here Is The City Deep Blue Associates-sponsored '2008 Best Chief Technology Officer / Chief Information Officer Poll'.
HSBC has entered into an agreement to pay $62.5m to settle claims against it in the class action pending in New York against various HSBC companies and numerous other defendants on behalf of investors in the Thema International Fund PLC ('Thema'), an Irish incorporated and authorised UCITS fund whose assets were invested with Bernard L Madoff Securities LLC ('Madoff Securities').
Hot on the heels of the announcement that JPMorgan has spurned Canary Wharf and has chosen the 'Square Mile' for its new European HQ (St Alphage House in London Wall), most of the interest centres around the fact that, of the 1 million square feet that makes up the new building, there will be four giant trading floors of some 72,000 square feet each.
For the 4th year, the brave and the bold have traded their suits and ties for shorts and gloves in the City’s leading charity boxing event, the Hedge Fund Fight Nite, which raises much needed funds for Operation Smile UK – a charity providing free reconstructive surgery to children and young adults all over the world that suffer from cleft lips, cleft palates and other facial deformities.
As we are constantly being approached by people looking to gain graduate entry into financial markets firms, we've come up with this directory.
HSBC is now settled into it's new Group Head Office building at 8 Canada Square, Canary Wharf. Up to 8,000 staff can be based in the building, making it the biggest single-occupancy building in the City.
Shares of U.K. bank HSBC briefly surged 9.8 percent in morning trade on Thursday, with market watchers blaming a trading error for the move.