latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/report-hsbc-eyes-bad-bank-consolidation-of-2-divisions-57113237 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: HSBC eyes bad bank, consolidation of 2 divisions

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments

Report: HSBC eyes bad bank, consolidation of 2 divisions

HSBC Holdings PLC plans to create a bad bank for unwanted assets in a restructuring that also involves potentially combining into a new unit its global banking business and some parts of the commercial banking division, Financial News reported Feb. 13, citing people familiar with the proposals by the company's management.

The most likely contender to head the new unit is Greg Guyett, head of global banking, while HSBC's COO for global banking Mary MacLeod could become COO of the new entity, the people said.

The U.K. group will set up a bad bank to house $150 billion to $250 billion of underperforming assets and businesses, according to one person. These are likely to include global banking and markets assets, the French retail unit and Turkish operations, according to the report.

Final decisions on the moves still need to be made and the nature of the restructuring could change, the people said.

The bank could disclose a strategic shake-up at its full-year results announcement on Feb. 18.

Interim CEO Noel Quinn had vowed to remodel the bank in October 2019 when it announced third-quarter 2019 results, to tackle performance issues in Europe and some other parts of the world.