HSBC Will Not Attract Wealthy In Japan

HSBC plans to open branches for the wealthy in Japan. One Google search by intelligent wealthy Japanese will foul HSBC plans instead. “This is another case of HSBC ignoring Household International and HSBC Finance Corporation” said one analyst close to the matter. “Wealthy Japanese customers rely on trust and reputation, but as the subprime mess …

Shareholder Activist Has Issues With HSBC Strategy

Knight Vinke, the high-profile shareholder activist group, has told HSBC that it “has an issue with its strategy” and has held talks with the global banking group’s finance director about a complete review of the bank’s direction. The activist shareholder, which has secured the support of Calpers, the Californian state pension fund, is demanding that …

HSBC breach over free cashpoint claims

An HSBC commercial was today criticised for misleadingly claiming Bank Account Plus customers were not charged for withdrawing cash abroad. In fact, the bank charges a 2.75% exchange rate adjustment to cover card processing and handling costs. That adjustment is “essentially a transaction fee” charged to HSBC customers, the Advertising Standards Authority ruled. The watchdog …