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Noel Quinn will be a hard act to follow at HSBC
Restructuring HSBC, like painting the Forth bridge, is a never-ending job. While Noel Quinn has done well, the board must not make another ham-fisted transition.
EDITOR'S PICKS
The Fed chair has made a remarkable, virtually unconditional surrender to opponents of his plan for Basel III implementation in the US. The tactical withdrawal is embarrassing, but it makes strategic sense.
After less than two years, S&P is scrapping its ESG credit indicators and America’s anti-woke politicians are thrilled. But this may not be the win they think it is.
Outbound Chinese M&A deal-flow has slowed to a crawl even as inbound activity remains steady. So focus in the region is moving elsewhere: to rising India, steady-and-lucrative Australia and even Japan, where once-bloated conglomerates are streamlining portfolios under intense pressure from activist shareholders.
Chinese fintech Ant Group has offered UBS a reported $250 million for Credit Suisse’s China joint venture, outbidding Citadel Securities. It is a timely reminder that despite its current malaise, Asia’s largest economy is still a great long-term place to invest.
Opinion
BBVA’s bid for Banco Sabadell didn’t appear to be going well when its share price slumped after the announcement. Then Sabadell rejected the offer despite the substantial premium to its own share price.
As banks focus more on climate adaptation across their businesses, are they conceding that mitigation efforts are futile?
The two European banks are both trying to de-emphasise their investment banks and want to build up areas where they see weakness. Barclays is later to this party than Deutsche, but both will have found encouragement in the first three months of 2024.
The standards-setter has come under fire for announcing plans to allow companies to offset Scope 3 emissions as part of net-zero targets. But this kind of compromise has always been inevitable.
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Why incumbents keep building neobanks
Intesa Sanpaolo’s Isybank is the latest in-house neobank to run into trouble. But the desire to migrate core-banking systems onto the cloud is still encouraging other banks to follow this strategy.
Private banking: India moves to centre stage
Global money is flooding into India to profit from high-performing stocks, a booming economy, and the ease of investing via Gift City, a growing financial hub in Gujarat. Local wealth is flowing the other way, notably to Dubai. It’s a gold mine for private banks, and the process has only just begun.
Isbank’s CEO on coming out of a crisis
Isbank’s chief executive Hakan Aran sees embedded finance and an innovative approach to bank branches as the future as the Turkish bank looks to rebuild on a better market environment for its 100-year anniversary.
XP: Will the tables turn on Brazil’s great disruptor?
XP has succeeded in Brazil by using its technological efficiencies to win on digital experience and price. But now the incumbents are catching up and XP chief executive Thiago Maffra is focusing on developing service beyond pure online delivery.
MOST READ
What They Said
WHAT THEY SAID
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I don’t see any bank surviving without AI. It’s like living without electricity
Manuel Abat, India, Middle East and Africa practice head, digital and implementation at global consultancy Oliver Wyman, underscores the importance of AI to the future of banking -
Historically, a wealthy client would have maybe 5% of their portfolio allocated to private assets. Today, it’s typically 25% to 30%
Nitin Singh, head of Barclays Private Bank Asia, explains how the wealth management dynamic in India is changing -
It’s one thing to invest, but you also need to know what you’re doing and have the right seniority on the ground
Alexander von zur Mühlen, Asia Pacific chief executive at Deutsche Bank, explains his regional strategy
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