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South China Morning Post
9 hours ago
- Business
- South China Morning Post
HSBC to grow investment bank to serve IPO demand from Asia and Middle East start-ups
HSBC will expand its investment banking business to serve the rising demand of companies from Asia and the Middle East for initial public offerings (IPOs), said the co-CEOs of the bank's biggest profit centre. The plan aligns with the bank's restructuring to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US. Hong Kong sits atop the world's IPO league table, after 27 companies raised US$9.96 billion this year as of last week, according to the London Stock Exchange Group. India's two bourses – the National Stock Exchange and Bombay Stock Exchange – ranked fourth and fifth in the same period, with 113 companies raising US$7.72 billion. 'We have taken out the mergers and acquisitions [as well as] the equity capital market [businesses] from the UK and the US markets,' said David Liao, HSBC's co-CEO for Asia and the Middle East, in an interview on Thursday. 'We want to redirect [growth towards a] deeper focus on Asia and intra-Asia opportunities.' HSBC's co-CEOs for Asia and the Middle East, David Liao (left) and Surendra Rosha (right), during an interview at HSBC's head office in Central on June 5, 2025. Photo: Jonathan Wong Hong Kong, one of the two cities where HSBC was founded in 1865, was a listing market as well as a hub for international investors, Liao said, which prompted the bank to expand its capacity to serve the growing population of wealth management clientele beyond the city's 7.5 million population.
South China Morning Post
25-03-2025
- Business
- South China Morning Post
Hong Kong must capitalise on DeepSeek to lure global and Chinese funds, HSBC's Liao says
The market rally driven by the DeepSeek breakthrough has attracted massive capital inflows to Hong Kong, as both international and mainland investors bet on China's tech sector, according to a top HSBC executive. Advertisement 'The recent 'DeepSeek moment' in artificial intelligence (AI) technology has become a turning point for global investors to recognise the value of Chinese companies through Hong Kong's capital markets,' David Liao Yi-chien, Asia and Middle East co-CEO, said in an exclusive interview with the Post ahead of the HSBC Global Investment Summit on Tuesday. 'We are seeing international money coming into the Hong Kong stock market and into China stock markets. Mainland investors are also investing in Hong Kong via the southbound Stock Connect scheme.' The rally in Hong Kong was triggered by Hangzhou-based start-up DeepSeek's release of two powerful but cost-effective large language models in January. The Hang Seng Index has risen more than 20 per cent so far this year, after advancing 18 per cent in 2024. The Hang Seng Tech Index has surged nearly 26 per cent so far in 2025. 00:56 David Liao, HSBC Asia head, highlights Hong Kong's role in global investment opportunities David Liao, HSBC Asia head, highlights Hong Kong's role in global investment opportunities For most of March, the daily stock market turnover in Hong Kong has averaged nearly HK$300 billion (US$38.6 billion), more than double from a year earlier.
South China Morning Post
04-03-2025
- Business
- South China Morning Post
HSBC celebrates 160 years in Hong Kong with display of the bank's heritage and innovation
HSBC marked its 160th anniversary with a vibrant celebration at its famous Hong Kong headquarters at 1 Queen's Road Central, the same address where the bank first opened its doors on March 3, 1865. This landmark occasion not only honoured the bank's rich heritage, but also highlighted its ongoing evolution as a cornerstone of Hong Kong's financial landscape. Advertisement The anniversary celebration started with Luanne Lim, CEO of HSBC Hong Kong, sharing muffins with bank staff. The muffins were handmade by iBakery, a social enterprise that supports the development of individuals with disabilities. Staff also enjoyed a unique lion dance and drum performance that unfolded across several levels of the Main Building's atrium, which included the lions, sporting LED lights, performing a routine choreographed to a pop song. Luanne Lim (centre), CEO of HSBC Hong Kong, along with David Liao (left) and Surendra Rosha, the bank's co-CEOs for Asia and Middle East, officiated the anniversary celebration featuring the 'HSBC 160 Years of Great Stories' thematic installations. Also included in the celebration was the unveiling of a special 160th anniversary Rube Goldberg machine, which artistically illustrates HSBC's journey from its founding to the present day. The installation, located on the ground-floor plaza of the HSBC Main Building, was created exclusively to mark this anniversary. This innovative display serves as a time machine, offering viewers a glimpse into the bank's growth over the past 160 years in about 160 seconds. The installation showcases HSBC's deep roots in Hong Kong while also looking towards the future, highlighting key milestones in the bank's history such as the origins of the hexagonal logo and the transformation of digital services. (From left) Liao, Lim and Rosha enjoyed a celebratory lion dance in the atrium of HSBC's Hong Kong headquarters. From March 4, members of the public will have the opportunity to engage with the machine, in addition to viewing the installations of a giant birthday cake and a neon-light time tunnel that symbolise HSBC's past and present. Advertisement
