HSBC has increased a provision for expected credit losses by US$400 million to reflect the economic outlook in Hong Kong. Photo: Bloomberg

HSBC to replace investment bank head as part of management reshuffle as Noel Quinn moves to ‘remodel’ bank

  • Interim CEO Noel Quinn is reshaping the bank as he hopes to take the top job permanently
  • Quinn expects to accelerate cost cuts as part of his efforts to improve profits at the lender
Topic |   HSBC

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HSBC has increased a provision for expected credit losses by US$400 million to reflect the economic outlook in Hong Kong. Photo: Bloomberg
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An HSBC report released last week said that the bank’s 1,600 robotic devices processed 11.5 million transactions last year, a tenfold increase from 2017. Photo: Roy Issa

HSBC insists it does not need a virtual bank licence in Hong Kong, invests US$2.2 billion in raising digital banking game

  • Hong Kong’s largest lender has spent 17 per cent more in the first half this year to improve its digital capabilities, says the bank’s global head of innovation Andrew Connell
  • Bank’s investment in robotics and AI has helped to speed up and improve its customer services
Topic |   Banking & Finance

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An HSBC report released last week said that the bank’s 1,600 robotic devices processed 11.5 million transactions last year, a tenfold increase from 2017. Photo: Roy Issa
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