by Dismal-Jellyfish
www.dtcc.com/-/media/Files/pdf/2023/2/3/Issuer-Failure-MMB6.pdf
Some recent headlines:
HSBC 1/13/2023:
Under pressure from his biggest shareholder, China’s Ping An Insurance Group, to improve profit, HSBC (HSBA.L) Chief Executive Noel Quinn has in recent months accelerated plans to shrink its global empire and streamline its management.
Reuters reported HSBC is shedding at least 200 senior managers as it prunes the ranks of chief operating officers it has across an array of country and business lines.
The bank also announced it is selling its Canadian business for $10 billion, removing around 4,000 employees from its wage bill in a stroke. It also announced on Nov. 30 the sale of its much smaller New Zealand business, and the closure of a further 114 branches in Britain, leaving it with around a third of the outlets it had as recently as 2016.
HSBC eyes New Zealand sale, axes UK branches as empire shrinks
Ex-HSBC Trader Claims Bank Has ‘Epic’ Front-Running Problem
A former HSBC Holdings Plc trader sued the bank, claiming he was fired for warning management about its “epic” front-running problem and confronting a colleague about trading ahead of an order for Steve Cohen’s Point72 Asset Management.
HSBC customers in U.S. sent inadvertent emails on mortgages, relocation
HSBC class action claims bank does not compensate employees for lunch breaks