Posted on Feb 22, 2019 2021 at 18:42Updated Feb 22, 2019 2021 at 18:53
It is not that easy to change recipes that are not working as well. Since the financial crisis of 2007, the financial communication of HSBC thus gives pride of place to giant job cuts and the location of major managers, or even the head office. These proven themes are still at the heart of the leaks on the eve of the strategic presentation. They have long benefited from its stock market history, caught between the rise of Asia – a plus for the Sino-British bank – and the fall in interest rates – one less comparative advantage. However, the City aspires to a renewal. The arrival of Mark Tucker as chairman of the board, announced almost four years ago, has not turned the tide. The action even lags a little behind European banking stocks, the less well off. Beyond the geopolitical tensions which seriously complicate its task, its promised “Asian pivot” seems to call for others. Global investors, in particular, would like to see more clearly the potential outside Hong Kong. And they are scrutinizing the digital strategy, more than the downsizing of not profitable enough retail banking in continental Europe and the United States. Not only Goldman Sachs and JP Morga n rely on their tech to expand abroad, but in addition, the UK is their laboratory.
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