HSBC
Chinese asset manager becomes second biggest HSBC stakeholder
The asset management arm of China’s Ping An Insurance has become the second largest shareholder in HSBC after a recent acquisition pushed its stake over the 5% stock exchange notification threshold.
PEOPLE MOVES: Globaleye, HSBC, Franklin Templeton
Globaleye Singapore has appointed a chief investment officer, while one of HSBC’s most senior investment bankers has resigned and Franklin Templeton has promoted a head of distribution for France and the Benelux region.
HSBC fined record HK$400m for Lehman Brothers-related failures
A Hong Kong tribunal has upheld disciplinary action taken against the local branch of HSBC Group’s Swiss private banking business for “material systemic failures” in relation to the sale of structured products, including from Lehman Brothers, in the run up to the global financial crisis.
Lombard Int’l buys HSBC Life Assurance portfolio for €1
HSBC Life Assurance (Malta) has entered into a portfolio transfer agreement with Lombard International Assurance to sell part of one of its insurance portfolios for €1 (£0.89, $1.16).
PEOPLE MOVES: Generali, HSBC Life, Lombard Odier
Generali Group parts ways with its chief insurance officer, HSBC Life appoints a new chief executive and Lombard Odier pulls its new head of family wealth services from UBP.