stuart gulliver

HSBC's chief executive writes for FinanceAsia's 20th anniversary issue on how the workshop of the world is becoming China’s Silicon Delta.

The stock dipped by 4.4% in London amid disappointment about weak revenues and the potential for a $1.6 billion settlement charge related to the sale of mortgage-backed securities in the run up to the financial crisis.

HSBC CEO Stuart Gulliver announces additional job losses by 2016 in an attempt to reduce costs.

Gulliver’s got guts. He’s slicing away the non-core HSBC businesses. The latest move: sell some of the general insurance units in Asia and Latin America for $914 million.

HSBC sells its US monoline credit card and private-label credit card business to Capital One for more than $30 billion, as group chief executive Gulliver delivers on his promise to streamline the bank and shore up capital.

Hong Kong is in the firing line for the 30,000 jobs that HSBC will cut, says Stuart Gulliver, although the bank will also be hiring in Asia-Pacific in some specific areas.

Despite declaring strong profit growth and a stellar year in global banking and markets, HSBC's share price fell yesterday as investors questioned the higher costs and a reduced return-on-equity target.

HSBC moves Paul Thurston from London to Hong Kong with a mandate to head retail banking and wealth management as it aims to strengthen its offering in the region.

Stuart Gulliver is named the new CEO after Geoghegan resigns, while Douglas Flint will take on the chairman's role.