HSBC opts for most boring name change imaginable September 3, 2015 Earth-shaking news from the banking sector this morning, after HSBC unveiled the name of its ring-fenced UK bank: HSBC UK. Try to contain your excitement. It had been speculated that the bank was toying with the name "Midland", the chain it acquired in the early 1990s. But in a statement this morning, HSBC said that [...]
HSBC and NatWest online banking glitch: Bankers return unrested after bank holidays August 31, 2015 HSBC and NatWest faced the financial equivalent of leaving the oven on before going on holiday this weekend, as both banks suffered IT glitches over the bank holiday leaving over 275,000 customers without their wages. The fault meant that salaries were not transferred from HSBC business accounts to the accounts of employees, including those [...]
HSBC sorts computer glitch and completes all delayed payments August 29, 2015 HSBC announced today that it has sorted out the computer glitch that resulted in 275,000 payments being delayed yesterday. The bank, which suffered a problem with its BACS payment system, left thousands of customers worrying that they would have no money over the Bank Holiday weekend. Those affected included HSBC account holders expecting [...]
HSBC glitch: Treasury Select Committee chairman Andrew Tyrie writing to Stuart Gulliver over IT failure August 28, 2015 Treasury Select Committee chairman Andrew Tyrie said he's writing to the chief executive of HSBC after an IT glitch left thousands without their pay cheques before the beginning of the bank holiday. The Conservative MP wants to find out how HSBC boss Stuart Gulliver intends to prevent another incident, and ensure the bank's customers won't lose [...]
HSBC customers not getting paid after IT failure August 28, 2015 HSBC customers face payday woes today, after an IT glitch at the bank has left thousands without their salaries just ahead of the bank holiday weekend. It's unclear exactly what problems it's experiencing, but following a barrage of complaints from customers noticing that their paycheques were missing, the bank confirmed on Twitter that it was [...]
HSBC, Barclays and RBS among nine banks signing up to $2bn US foreign exchange settlement August 14, 2015 Nine banks including HSBC, Barclays and Royal Bank of Scotland (RBS) have agreed a $2bn (£1.3bn) settlement with US investors over currency rigging-accusations. Goldman Sachs, BNP Paribas, Bank of America, JP Morgan, Citibank and UBS also signed up to the deal, according to lawyers negotiating on behalf of the investors. A statement by law firm [...]
Struggling banks must not be immune to watchdog’s bite August 12, 2015 It's two years since “saying it with Flowers” gained entry into the lexicon of British banking. This week’s dual censure from the banking and City regulators will have felt like groundhog day to Niall Booker and the rest of the Co-operative Bank’s management. The Treasury Select Committee and a review by Sir Christopher [...]
Top banks could face millions in new PPI claims over commission August 10, 2015 Britain’s top banks are facing further fall out from the mis-selling of payment protection insurance (PPI). The latest potential threat comes from a case brought by lecturer Susan Plevin, over a loan and PPI policy taken out in 2006. She was unaware that more than 70 per cent of the commission she paid on the [...]
HSBC appoints Antonio Simoes as chief executive of Europe business August 4, 2015 HSBC has appointed Antonio Simoes as chief executive HSBC Bank plc, its UK business, and chief executive of its Europe business. He replaces Alan Keir, who has worked for the bank for the 34 years and intends to retire once the change comes into effect on 1 September. Before joining HSBC in 2007, [...]
HSBC share price rises as profit climbs 10 per cent and it confirms Brazil unit sale August 4, 2015 The UK's biggest bank has unveiled a 10 per cent rise in profits – but it has yet to decide whether it will remain headquartered in the UK. Shares in HSBC were trading up 0.6 per cent to 583p in London today. The figures HSBC said profit climbed 10 per cent to $13.6bn (£8.7bn) in the first six [...]