Latest news with #UK-headquartered
Time of India
a day ago
- Business
- Time of India
HSBC Business Banking Closure: HSBC to close its US business banking unit to simplify operations, ETHRWorld
Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHRWorld App Get Realtime updates Save your favourite articles Scan to download App By Jaiveer Shekhawat and Saeed AzharHSBC is exiting its business banking portfolio in the United States, as it continued to simplify operations and shift its focus to Asia and Middle East markets."Following a strategic review of our business, we have decided to exit our Business Banking portfolio in the United States," it said in a statement."We are supporting impacted clients while they transition to a suitable alternative provider and will retain some clients in our Mid-Market and Global Network Banking business," it Wall Street Journal reported on Friday that HSBC's move would affect about 4,500 UK-headquartered lender has been reducing its global footprint in an attempt to boost profits and expand in Asia and Middle East bank said in January it would wind down M&A and some equities businesses in the Americas and Wall Street Journal said HSBC laid off 40 employees in the U.S. business banking division. HSBC declined to comment, In 2021, the bank said it was withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down sold its Canadian business to Royal Bank of Canada in 2022 for C$13.5 billion. (Reporting by Jaiveer Singh Shekhawat in Bengaluru and Saeed Azhar in New York; Editing by Cynthia Osterman)
CairoScene
a day ago
- Health
- CairoScene
Josour Schools to Launch New Neurodiversity Campus in Riyadh
Josour Schools opens this September in Riyadh's Roshn Sedra 1, offering tailored education for neurodiverse children. Josour Schools is set to launch a new specialised school for neurodiverse children aged three to nine in Riyadh's Roshn Sedra 1 community this September. The school is being established through a partnership between Saudi-based Josour Company and UK-headquartered CareTech. The campus will integrate education, therapy, and family support within a small-class environment. It will follow a British curriculum adapted to align with local cultural values and is designed to support Saudi Arabia's Vision 2030 objectives around inclusive education. The school will be staffed by educators trained in the UK and supported by therapists working in coordination with international specialists. According to CareTech, the school will also benefit from access to its broader network of 47 schools and 550 specialist services across the United Kingdom. Admissions are currently open for the 2025 academic year.
The Sun
3 days ago
- Business
- The Sun
HSBC to close its US business banking unit to simplify operations
HSBC is exiting its business banking portfolio in the United States, as it continued to simplify operations and shift its focus to Asia and Middle East markets. 'Following a strategic review of our business, we have decided to exit our Business Banking portfolio in the United States,' it said in a statement. 'We are supporting impacted clients while they transition to a suitable alternative provider and will retain some clients in our Mid-Market and Global Network Banking business,' it added. The Wall Street Journal reported on Friday that HSBC's move would affect about 4,500 clients. The UK-headquartered lender has been reducing its global footprint in an attempt to boost profits and expand in Asia and Middle East markets. The bank said in January it would wind down M&A and some equities businesses in the Americas and Europe. The Wall Street Journal said HSBC laid off 40 employees in the U.S. business banking division. HSBC declined to comment, In 2021, the bank said it was withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others. It sold its Canadian business to Royal Bank of Canada in 2022 for C$13.5 billion.
The Sun
3 days ago
- Business
- The Sun
HSBC exits US business banking to refocus on Asia
HSBC is exiting its business banking portfolio in the United States, as it continued to simplify operations and shift its focus to Asia and Middle East markets. 'Following a strategic review of our business, we have decided to exit our Business Banking portfolio in the United States,' it said in a statement. 'We are supporting impacted clients while they transition to a suitable alternative provider and will retain some clients in our Mid-Market and Global Network Banking business,' it added. The Wall Street Journal reported on Friday that HSBC's move would affect about 4,500 clients. The UK-headquartered lender has been reducing its global footprint in an attempt to boost profits and expand in Asia and Middle East markets. The bank said in January it would wind down M&A and some equities businesses in the Americas and Europe. The Wall Street Journal said HSBC laid off 40 employees in the U.S. business banking division. HSBC declined to comment, In 2021, the bank said it was withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others. It sold its Canadian business to Royal Bank of Canada in 2022 for C$13.5 billion.
Yahoo
3 days ago
- Business
- Yahoo
HSBC to close its US business banking unit to simplify operations
By Jaiveer Shekhawat and Saeed Azhar (Reuters) -HSBC is exiting its business banking portfolio in the United States, as it continued to simplify operations and shift its focus to Asia and Middle East markets. "Following a strategic review of our business, we have decided to exit our Business Banking portfolio in the United States," it said in a statement. "We are supporting impacted clients while they transition to a suitable alternative provider and will retain some clients in our Mid-Market and Global Network Banking business," it added. The Wall Street Journal reported on Friday that HSBC's move would affect about 4,500 clients. The UK-headquartered lender has been reducing its global footprint in an attempt to boost profits and expand in Asia and Middle East markets. The bank said in January it would wind down M&A and some equities businesses in the Americas and Europe. The Wall Street Journal said HSBC laid off 40 employees in the U.S. business banking division. HSBC declined to comment, In 2021, the bank said it was withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others. It sold its Canadian business to Royal Bank of Canada in 2022 for C$13.5 billion. 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
