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HSBC rebrands, expands its SVB UK buy as HSBC Innovation Banking

TechCrunch · 2y ago

HSBC rebrands, expands its SVB UK buy as HSBC Innovation Banking

HSBC has rebranded and expanded its acquisition of SVB UK as HSBC Innovation Banking. The move aims to strengthen HSBC's position in the technology and innovation sector, offering tailored financial services to startups and growth-stage companies. HSBC Innovation Banking will focus on supporting entrepreneurs, providing capital, and fostering collaboration between businesses. The rebranding reflects HSBC's commitment to driving innovation and serving the evolving needs of the tech industry.

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New banking data reveals ’huge’ leap within India business corridor

Livemint

Livemint · 8m ago

New banking data reveals ’huge’ leap within India business corridor

According to data from HSBC UK, business activity between the UK and India has seen significant growth in 2024. The value of payments received by UK clients from India rose by 121%, while payments made by UK businesses to India increased by 32% in the nine months leading up to October 2024. HSBC UK also reported a 36% increase in new business client referrals from HSBC India. This highlights strong business ties between the two countries and opportunities for expansion, particularly in India's growing middle class and as a hub for Global Capability Centres.

A year later, what are the lessons from Silicon Valley Bank’s epic collapse?

Economic Times

Economic Times · 1y ago

A year later, what are the lessons from Silicon Valley Bank’s epic collapse?

The collapse of Silicon Valley Bank (SVB) in March 2023 had a significant impact on the tech startup ecosystem. Many feared it would have a disastrous effect on funding for startups, but a year later, the industry has largely returned to normal. However, some startups, like Circularr, experienced setbacks as investors backed out due to the SVB crisis. SVB itself has been focused on rebuilding trust with clients and has seen changes in startup behavior, with many diversifying their banking relationships. The crisis also presented opportunities for fintech startups like Brex, which gained customers by reacting effectively to the situation.

HSBC names Chito Jeyarajah Asia head of investment banking

VCCircle

VCCircle · 5m ago

HSBC names Chito Jeyarajah Asia head of investment banking

HSBC has appointed Chito Jeyarajah as the head of investment banking in Asia, effective April 1. Jeyarajah, previously the head of equity capital markets (ECM) for Asia Pacific at HSBC, joined the bank in 2017 from Goldman Sachs. This move is part of HSBC's broader restructuring of its investment banking operations, which includes consolidating divisions and cutting costs following recent leadership changes in its global team.

HSBC to sell Bahrain retail banking operations as restructuring progresses

VCCircle

VCCircle · 6m ago

HSBC to sell Bahrain retail banking operations as restructuring progresses

HSBC has agreed to sell its retail banking operations in Bahrain to Bank of Bahrain and Kuwait (BBK) as part of a global restructuring effort. This transaction involves transferring retail loans, deposits, and accounts of approximately 76,000 customers to BBK. The deal, which excludes corporate and private banking, is undisclosed financially. HSBC is scaling back worldwide operations, consolidating certain business segments, and shifting focus towards Asia, leading to significant job cuts and strategic changes.

Visa agrees to buy AI-focused enterprise tech firm Featurespace

Economic Times

Economic Times · 11m ago

Visa agrees to buy AI-focused enterprise tech firm Featurespace

Visa is set to acquire Featurespace, an AI-focused company specializing in fraud prevention and financial crime detection. The terms of the deal have not been disclosed. The acquisition will allow Visa to enhance its clients' fraud management capabilities in real time and protect its payment ecosystem. Featurespace, headquartered in the UK, has over 400 employees and operates globally. Its AI-enabled solutions are used by major banking and payment institutions like HSBC, NatWest, and Worldpay.

Ola Electric worth investing in: HSBC as it sets ₹140 target price

Internet

Internet · 1y ago

Ola Electric worth investing in: HSBC as it sets ₹140 target price

HSBC Global Research said Ola Electric Mobility is "worth investing in" given its ability to reduce costs and a positive risk-reward in its battery venture. Giving a 'buy' rating to the company, HSBC set a price target of ₹140 for its shares. Ola Electric's market cap surged close to $7 billion on Friday after its shares jumped 20%.

Ola Electric Stock: HSBC Says Recent Market Share Loss Worrisome But Retains Target Price

Inc42 · 12m ago

Ola Electric Stock: HSBC Says Recent Market Share Loss Worrisome But Retains Target Price

HSBC expressed concerns over Ola Electric's recent market share loss, resulting in a downside risk to its volume projections. The electric scooter company witnessed a 34% decline in registrations in August. However, HSBC maintains a positive outlook on Ola Electric's recovery and maintains a 'buy' rating on the stock.

Ola Electric's recent market share loss a cause of worry, says HSBC

Money Control

Money Control · 12m ago

Ola Electric's recent market share loss a cause of worry, says HSBC

HSBC, the brokerage firm, has expressed concerns about Ola Electric Mobility losing market share. Ola Electric recorded its lowest monthly sales in August, resulting in a decline in market share from 49% to 31%. HSBC attributes this loss to the increased availability of low-cost variants from rival companies. Despite this setback, HSBC remains optimistic about Ola's prospects and has retained its 'buy' call on the stock. Ola Electric's share price has experienced fluctuations since its IPO, but it is still up almost 50% from its IPO price of Rs 76.

Meta expands India VP's role to lead Southeast Asia markets

YourStory

YourStory · 3m ago

Meta expands India VP's role to lead Southeast Asia markets

Meta's Sandhya Devanathan, previously VP for India, will now oversee operations in Southeast Asia, covering key markets like Indonesia and Vietnam. This role expansion accompanies a leadership reshuffle as Dan Neary steps down as Asia-Pacific head. Devanathan, who joined Meta in 2016 and has extensive tech and banking experience, expressed her commitment to fostering growth and innovation. Benjamin Joe will succeed Neary as regional VP in July 2025, further bolstering the team.

HSBC hires Asia head for ultra-HNIs, names insider to lead India family office coverage

VCCircle

VCCircle · 1y ago

HSBC hires Asia head for ultra-HNIs, names insider to lead India family office coverage

HSBC has made two senior hires in its private banking division to strengthen its coverage of ultra-high net worth (UHNW) clients in Asia. Kerri Lim, formerly of UBS, has been appointed as the head of UHNW for Asia. She brings over 20 years of experience in the financial industry. The bank has also hired Pritash Mathur as head of family office coverage for global India and Global South Asia. HSBC has been expanding its UHNW team in a bid to better serve clients in this market segment.

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