Latest news with #StevenMajor
Yahoo
27-05-2025
- Business
- Yahoo
Bond Bull Steven Major Ousted as HSBC Slashes Jobs
HSBC is dismissing over two dozen analysts as part of a new restructuring, That includes the bank's global head of fixed income research Steven Major. The changes are part of the CEO's efforts to increase efficiency. Bloomberg Finance Reporter William Shaw joined Wall Street Beat on Bloomberg Open Interest to talk about the changes.
Bloomberg
27-05-2025
- Business
- Bloomberg
Bond Bull Steven Major Ousted as HSBC Slashes Jobs
HSBC is dismissing over two dozen analysts as part of a new restructuring, That includes the bank's global head of fixed income research Steven Major. The changes are part of the CEO's efforts to increase efficiency. Bloomberg Finance Reporter William Shaw joined Wall Street Beat on Bloomberg Open Interest to talk about the changes. (Source: Bloomberg)
Yahoo
27-05-2025
- Business
- Yahoo
HSBC Just Fired Dozens of Analysts--Here's What It Means for Global Markets
HSBC Holdings (NYSE:HSBC) just tore a page out of Wall Street's new playbookcut costs, go lean, and chase alpha where the growth still lives. The bank has let go of more than two dozen analysts, including fixed income veteran Steven Major, in what's shaping up to be one of the biggest research department overhauls in years. The shake-up sees macro teams across FX and fixed income merged under Murat Ulgen, while equity research gets new co-heads in Eliot Camplisson and Raj Sinha. HSBC once boasted one of the broadest research networks globally, covering 2,000 stocks. That footprint just got a lot smaller. Warning! GuruFocus has detected 8 Warning Signs with INTU. CEO Georges Elhedery isn't stopping there. Since taking over in September, he's been dismantling parts of HSBC's traditional investment bankshutting down M&A and equity underwriting in the US, UK, and Europe. Now, capital is being rerouted into hot zones: private credit and high-growth emerging markets. Ed Sankey, global head of ECM, is out. Greg Guyett, the former investment banking boss, is headed to the European Bank for Reconstruction and Development. The firm is trimming vice-chairman roles, too. Restructuring charges could run up to $1.8 billion over the next two yearsbut HSBC's betting it pays off. So what's left? HSBC says it'll keep some analysts in Europe, but mostly to cover global names tied to Asia and the Middle East. That's where the full-service investment bank lives now. Shares are up more than 10% this year in London, but the bank isn't out of the woodsits heavy Asia exposure means it's walking a tightrope between Washington and Beijing. Still, with a sharper focus, lighter structure, and deeper push into private credit, HSBC could be positioning itself for the next leg of growth where others have pulled back. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
27-05-2025
- Business
- Bloomberg
Japan Cedes Top Creditor Title to Germany After 34-Year Run
Japan lost its position as the world's largest creditor nation for the first time in 34 years, despite posting a record amount of overseas assets. Japan's net external assets reached ¥533.05 trillion ($3.7 trillion) at the end of 2024, rising about 13% from the previous year, according to data released by the Ministry of Finance. While the figure marked an all-time high, it was overtaken by Germany, whose net external assets totaled ¥569.7 trillion. China stayed in third place with net assets of ¥516.3 trillion. Japan began its streak at the top by overtaking Germany in 1991. Last year, the euro-yen rate rose about 5%, exaggerating the increase in German assets versus Japanese in yen terms. HSBC has culled more than two dozen analysts in recent days as the bank deepens a restructuring of its investment banking businesses, according to people familiar with the matter. Those affected by the move include Steven Major, the 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.
Bloomberg
27-05-2025
- Business
- Bloomberg
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)
