George Hay coordinates European financial coverage and writes about macroeconomics, the euro zone and UK/European financial policy. He covered European banks for Breakingviews during the financial crisis, and has also worked as a correspondent for AFX News and at United Business Media. He attended Edinburgh University and his work has been recognised at the UK’s Business Journalist of the Year Awards. Follow George on Twitter @gfhay
- Tel: +44 (0)20 7542 0280
- E-mail: firstname.lastname@example.org
The global bank is reviewing its head office location based on 11 criteria such as economic importance, transparency and tax. A ranking based on data compiled by Breakingviews shows Singapore, Hong Kong and even Toronto are more attractive than HSBC’s current home base.
The Swiss bank did well in wealth management and Asia, where new CEO Tidjane Thiam is likely to focus. The investment bank, which may need further pruning, is holding up. The good vibes will help investors feel better about a looming strategic revamp – and a potential cash call.
The UK bank may have the option of taking a so-called deferred prosecution agreement for alleged inadequate disclosure of fees paid to the emirate after a 2008 capital hike. A speedy resolution would remove a key risk for investors. But it might also open a legal can of worms.
- Agnellis nudging PartnerRe out of rival's reach
- ECB faces tricky call on Greek bank solvency
- The dubious maths behind UK non-dom tax clampdown
- IMF gives Greek debt relief a helpful shove
- Greece sends periphery bank bulls to the abattoir
- Greek bank salvation may still have sting in tail
- UK Tories pinch some choice left-of-centre ideas