In 2017, the board of HSBC made a landmark, even radical, decision: they appointed an outsider as Chairman. Having installed Mark Tucker in the role, they were obliged to appoint an HSBC lifer as Group CEO. Having two outsiders with little knowledge of the sprawling beast that is HSBC would have been a risk too […]
The DoJ has now dismissed the deferred criminal charges… this will be a source of satisfaction to recently retired HSBC Chairman, Douglas Flint, and about-to-retire CEO Stuart Gulliver
…don’t say something stupid to make the situation worse.
Roman leaders and East India Company managers… their perceived disadvantages, poor communications, difficult travel and limited technology worked in their favour
…‘it is perfectly obvious they are more than just good friends’.
Since the financial crisis of 2008/2009 and the subsequent revelation of various misdeeds, money laundering, bad sales practices, dodgy private banking, for example, the reputation of HSBC has suffered.
US giants such as JPMC, enjoy huge domestic markets that are the heart of their businesses. HSBC is an orphan everywhere.
A Chinese friend asked me if HSBC would ever see its ‘glory days’ again, a reference to a time when local families gave board lots of HSBC shares to their children as sound long-term investments. Good question. No good answer. But there ought to be.