HSBC
HSBC Holdings plc ADR (NYSE: HSBC) announced the departure of senior banker Gerry Keefe, who led commercial...
Article Summary
HOLD- HSBC Holdings plc ADR (NYSE: HSBC) announced the departure of senior banker Gerry Keefe, who led commercial and investment banking activities in Europe and the Americas, following a reorganisation of global operations.
- Keefe is leaving to take up a position outside financial services, according to an internal memo seen by Bloomberg, while Jo Miyake, who currently oversees corresponding business in Asia and Middle East, has been appointed to cover Keefe's responsibilities on an interim basis.
- The departure comes as chief executive Georges Elhedery pushes ahead with a stronger focus on Asia, with HSBC withdrawing from significant parts of its investment banking operations over the past year, ending advisory work on mergers and acquisitions and equity capital markets services in London and New York.
- The bank also saw the exit of its US chief executive, Lisa McGeough, last year, with McGeoug moving to Deutsche Bank, while HSBC reported revenue of $68.27bn up by $2.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | -7.1% | 25% | 0.0 ptsDeclining (-7.1%) - NOT a growth stock |
| EPS Growth Next 5Y ? | 9.1% | 25% | 20.0 ptsWeak (9.1%) - Low expectations |
| Target Price Upside ? | 6.5% | 20% | 35.0 ptsBelow Screener (6.5%) - Target: $97.00 vs Current: $91.11 |
| Gross Margin % ? | — | 15% | 40.0 ptsNo Gross Margin Data |
| Drawdown from 52-Wk High ? | -3.9% | 15% | 20.0 ptsBarely a Dip (-3.9%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About HSBC
- HSBC Holdings plc engages in the provision of banking and financial products and services worldwide.
- It operates through four segments: Hong Kong, UK, Corporate and Institutional Banking, and International Wealth and Premier Banking.
- The Hong Kong segment is involved in the retail banking and wealth and commercial banking of HSBC Hong Kong and Hang Seng Bank.
- The UK segment engages in UK retail banking and wealth, as well as first direct and M&S Bank, UK Commercial Banking, and HSBC Innovation Bank.
- The Corporate and Institutional Banking segment is involved in transaction banking and capital markets.
- The International Wealth and Premier Banking segment is involved in the business comprising premier banking outside of Hong Kong and the UK, its private bank, asset management, and insurance businesses.
- The company was founded in 1865 and is headquartered in London, the United Kingdom.