Latest news with #GeorgesElhedery
Business Times
3 days ago
- Business
- Business Times
HSBC to inject US$4 billion into its private credit funds
[LONDON] Europe's biggest bank HSBC will inject US$4 billion into its private credit funds, amid a wider push by banks into the booming market as profits from traditional lending have come under pressure. HSBC said it will invest the cash into HSBC Asset Management's (HSBC AM) alternative credit funds, with the aim of attracting additional capital from external investors to build a US$50 billion credit fund within five years. The fast-growing US$2 trillion global private credit market provides lending to companies outside the more highly-regulated banking system, and is dominated by private equity giants such as Blackstone and Ares Management. Banks have been trying to muscle in, with some such as Citi and UBS partnering with existing players Apollo and General Atlantic. Others such as Deutsche Bank and HSBC have moved to build their own ventures. 'It's an arms race,' Nicolas Moreau, CEO of HSBC AM, said, adding that having greater HSBC group backing for its private credit funds would help the firm attract external money. While small in the context of HSBC's US$3 trillion balance sheet, the move is part of CEO Georges Elhedery's strategy to drive up revenue in higher-returning areas such as private credit rather than relying on low-returning bank loans. Reuters first reported in April that HSBC was exploring options to accelerate growth in private credit. HSBC AM's private credit unit is playing catch-up against more established players. It has deployed US$7 billion across 150 transactions since launching in 2018. The new funds will be invested globally, with an initial focus on areas including direct lending in the UK and Asia, Moreau added. REUTERS
Yahoo
4 days ago
- Business
- Yahoo
HSBC to inject $4 billion into its private credit funds
By Iain Withers and Lawrence White LONDON (Reuters) -Europe's biggest bank HSBC will inject $4 billion into its private credit funds, amid a wider push by banks into the booming market as profits from traditional lending have come under pressure. HSBC said it will invest the cash into HSBC Asset Management's (HSBC AM) alternative credit funds, with the aim of attracting additional capital from external investors to build a $50 billion credit fund within five years. The fast-growing $2 trillion global private credit market provides lending to companies outside the more highly-regulated banking system, and is dominated by private equity giants like Blackstone and Ares Management. Banks have been trying to muscle in, with some such as Citi and UBS partnering with existing players Apollo and General Atlantic. Others like Deutsche Bank and HSBC have moved to build their own ventures. "It's an arms race," Nicolas Moreau, CEO of HSBC AM, told Reuters, adding that having greater HSBC group backing for its private credit funds would help the firm attract external money. While small in the context of HSBC's $3 trillion balance sheet, the move is part of CEO Georges Elhedery's strategy to drive up revenue in higher-returning areas like private credit rather than relying on low-returning bank loans. Reuters first reported in April that HSBC was exploring options to accelerate growth in private credit. HSBC AM's private credit unit is playing catch up against more-established players. It has deployed $7 billion across 150 transactions since launching in 2018. The new funds will be invested globally, with an initial focus on areas including direct lending in the UK and Asia, Moreau added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
HSBC to inject $4 billion into its private credit funds
LONDON, June 2 (Reuters) - Europe's biggest bank HSBC (HSBA.L), opens new tab will inject $4 billion into its private credit funds, amid a wider push by banks into the booming market as profits from traditional lending have come under pressure. HSBC said it will invest the cash into HSBC Asset Management's (HSBC AM) alternative credit funds, with the aim of attracting additional capital from external investors to build a $50 billion credit fund within five years. The fast-growing $2 trillion global private credit market provides lending to companies outside the more highly-regulated banking system, and is dominated by private equity giants like Blackstone (BX.N), opens new tab and Ares Management . Banks have been trying to muscle in, with some such as Citi (C.N), opens new tab and UBS (UBSG.S), opens new tab partnering with existing players Apollo (APO.N), opens new tab and General Atlantic. Others like Deutsche Bank ( opens new tab and HSBC have moved to build their own ventures. "It's an arms race," Nicolas Moreau, CEO of HSBC AM, told Reuters, adding that having greater HSBC group backing for its private credit funds would help the firm attract external money. While small in the context of HSBC's $3 trillion balance sheet, the move is part of CEO Georges Elhedery's strategy to drive up revenue in higher-returning areas like private credit rather than relying on low-returning bank loans. Reuters first reported in April that HSBC was exploring options to accelerate growth in private credit. HSBC AM's private credit unit is playing catch up against more-established players. It has deployed $7 billion across 150 transactions since launching in 2018. The new funds will be invested globally, with an initial focus on areas including direct lending in the UK and Asia, Moreau added.
Yahoo
4 days ago
- Business
- Yahoo
HSBC to inject $4 billion into its private credit funds
By Iain Withers and Lawrence White LONDON (Reuters) -Europe's biggest bank HSBC will inject $4 billion into its private credit funds, amid a wider push by banks into the booming market as profits from traditional lending have come under pressure. HSBC said it will invest the cash into HSBC Asset Management's (HSBC AM) alternative credit funds, with the aim of attracting additional capital from external investors to build a $50 billion credit fund within five years. The fast-growing $2 trillion global private credit market provides lending to companies outside the more highly-regulated banking system, and is dominated by private equity giants like Blackstone and Ares Management. Banks have been trying to muscle in, with some such as Citi and UBS partnering with existing players Apollo and General Atlantic. Others like Deutsche Bank and HSBC have moved to build their own ventures. "It's an arms race," Nicolas Moreau, CEO of HSBC AM, told Reuters, adding that having greater HSBC group backing for its private credit funds would help the firm attract external money. While small in the context of HSBC's $3 trillion balance sheet, the move is part of CEO Georges Elhedery's strategy to drive up revenue in higher-returning areas like private credit rather than relying on low-returning bank loans. Reuters first reported in April that HSBC was exploring options to accelerate growth in private credit. HSBC AM's private credit unit is playing catch up against more-established players. It has deployed $7 billion across 150 transactions since launching in 2018. The new funds will be invested globally, with an initial focus on areas including direct lending in the UK and Asia, Moreau added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
27-05-2025
- Business
- Time of India
HSBC cuts dozens of analyst jobs in investment banking overhaul
HSBC Holdings Plc 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. Most of the cuts were in Europe, according to the people. As part of the sweeping changes, the London-based bank is combining macro strategy across asset classes including foreign exchange and fixed income, one of the people said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trekking pants for mountain sports and adventure travel Trek Kit India Shop Now Undo Murat Ulgen will now act as interim head of macro strategy in addition to his existing role as global head of emerging markets research, the person said. Meanwhile, Eliot Camplisson and Raj Sinha will expand their roles to become co-heads of equity research globally, and Janet Henry will continue to lead the global economics team, according to the person. The latest revamp comes as Chief Executive Officer Georges Elhedery continues to streamline the lender to increase efficiency. Since taking the helm in September, he has combined HSBC's commercial and investment banking units, while making operations in the UK and Hong Kong standalone businesses. The CEO has also shuttered most of the bank's mergers and acquisition and equity underwriting operations in the US, Britain and continental Europe. Live Events You Might Also Like: India among HSBC's top 4 priority growth markets, says CEO Georges Elhedery 'Our global research, equities sales and trading businesses are core to corporate & institutional banking,' a spokesperson for HSBC said in an emailed statement. Major didn't respond to a request for comment on LinkedIn. Elhedery's sweeping restructuring of the bank is expected to lead to $1.8 billion in charges over the next two years. Billions more will be spent redeploying resources from lower-returning units to areas where the bank believes it has a better chance of earning higher revenues. Most recently, HSBC reorganized its capital markets and corporate advisory units into a new business in a move aimed at grabbing a larger share of the booming private credit industry. Ed Sankey, the bank's global head of equity capital markets, is among those departing, Bloomberg News has reported. Senior banker Greg Guyett is also poised to leave within months, Bloomberg has reported. The firm is in the process of trimming some vice-chairman roles that reported to Guyett, the former head of the bank's global investment banking arm, according to people familiar with the matter. You Might Also Like: HSBC lays off bankers on bonus day, no payouts given Shares of HSBC have gained more than 10% this year in London. Still, as one of the world's largest trade financiers with a majority of revenue earned from Asia, HSBC is highly exposed to the global tariff war and growing tensions between Washington and Beijing.
