HSBC Cuts Dozens of Analysts Amid Deepening Restructure
HSBC has culled more than two dozen analysts in recent days as Europe's largest lender deepens a restructuring of its investment banking businesses, according to people familiar with the matter. Those affected by the move include Steven Major, HSBC's Dubai-based global head of fixed income research, the people said, asking not to be identified discussing confidential information. Bloomberg's Steven Arons reports. (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
22 minutes ago
- Bloomberg
Funds Pile Into Southeast Asian Bonds Despite Record Low Yields
Investors are making a beeline for Southeast Asian sovereign bonds despite their record low yields amid a shift away from US assets and on bets for further interest-rate cuts in the region. The average of 10-year yields in Southeast Asian nations relative to US Treasuries has dropped to the lowest in data going back to 2011, according to Bloomberg calculations. The region's bonds are benefiting from investors seeking alternatives to US assets as part of the ' sell America ' trade fueled by unease over President Donald Trump's policies.
Bloomberg
32 minutes ago
- Bloomberg
Apollo Delays Young Banker Offers as Rowan Agrees With Dimon
Apollo Global Management told prospective investment-banking candidates that it won't interview or extend offers to the class of 2027 this year, following a backlash from banks over young recruits accepting future-dated offers. In a letter sent to candidates on Wednesday, Apollo explained its decision by saying it believes graduates should take time early in their careers and deepen their understanding of business. Apollo's Chief Executive Officer Marc Rowan said he agreed with recent criticisms that the process for hiring young recruits had started too early.
Bloomberg
43 minutes ago
- Bloomberg
UK House Price Indicator Slides to 10-Month Low as Market Cools
A closely watched index of UK property prices declined to its lowest in almost a year, suggesting the housing market remains under pressure after a tax break for buyers expired. The Royal Institution of Chartered Surveyors said its gauge of home values dropped to minus 8 in May, indicating the number of estate agents reporting lower prices outnumbered those seeing an increase, according to a report Thursday. The reading was last lower in July 2024, just before the Bank of England started cutting borrowing costs from their 16-year high. Economists expected the gauge to remain unchanged at minus 3.
