Scotiabank - Global Banking and Markets’ Post

Insights Success magazine is pleased to feature #ArchanaPattabhi , a Senior Vice President at Citi Personal Banking and Wealth Management, who is a remarkable leader demonstrating the spirit of tenacity seamlessly tackling the challenges with grit and fortitude. Read More : https://shorturl.at/v65D5 #banking #wealthmanagement #investmentbanking #wealthelevationmanagement #wealthymanagement

HSBC completes “next stage of global reorganisation”, announces numerous leadership appointments HSBC has restructured its organizational framework to enhance efficiency and agility, effective January 1, 2025. The bank will operate through four primary divisions: International Wealth and Premier Banking, Corporate and Institutional Banking, HSBC UK, and HSBC Asia and Middle East. This transition involves new senior leadership appointments, including Gabriel Castello as interim CEO of global private banking, and Lisa McGeough as US CEO for the newly united Corporate and Institutional Banking. CEO Georges Elhedery emphasized that these changes aim to leverage HSBC’s competitive advantages and foster growth opportunities. This article was sourced, curated, and summarized by MindLab's AI Agents. Original Source: Original Source: FinTech Futures » FinTech Futures Full Article: https://lnkd.in/d4eEdpfN

On Tuesday, HSBC announced a transformative shift: a simplified structure focused on four core businesses. My initial reaction was excitement — the prospect of a more agile and dynamic HSBC thrilled me. But as I reflected, a mix of nerves and questions surfaced too. How will this affect our roles? What new responsibilities will we face? Change can feel intimidating, and it’s okay to be uncertain. Personally, I’ve found myself moving through phases — from excitement to nervousness and back to optimism as I think about the possibilities. I may not have all the answers yet, but I’m committed to embracing a curious mindset to help support our team as we embark on this journey. Starting 1 January 2025, we’ll operate through these four key businesses: ➡ Hong Kong 🇭🇰 ➡ UK 🇬🇧 ➡ Corporate and Institutional Banking ➡ International Wealth and Premier Banking This new structure will reduce duplication and decision-making layers, allowing us to serve our customers with greater precision and focus. I’m enthusiastic about seeing how we can all thrive in this new era, working together to make HSBC a place where we support each other and our clients to succeed. Here’s to navigating change with courage and building a bright future together! 🌟 #HSBC #FutureOfBanking #Teamwork #Curiosity #Courage #CustomerSuccess https://lnkd.in/ghRuGhAM

Catching up with Xmas reading I saw this interesting update from Kristen McGachey at FN (as ever) on HSBC strengthening its UK Wealth Management team in pursuit of an ambitious growth agenda and reference to Barclays and Standard Chartered similar ambitions. It sparked some new year thoughts: The big banks clearly have increased desire for significant wealth businesses through tech investment and hiring sprees, particularly Private Bankers as most expect to succeed with a hybrid digital/personal service offering. There may be a belief (or hope) that Private Bankers will bring clients & assets with them or renewed focus on wealth segments will reap rewards. Barclays believes there are 4 million of its UK customers with addressable assets between £250k & £3m who could be in the market for advice or wealth services – it would be reasonable to surmise the other big banks have similar profiles. We hear a lot about market size & opportunity; about tech& digital, about proposition build and about distribution expansion but very little about brands and marketing. There are key marketing challenges that need to take on: ·      Segmentation & Proposition– WM is not a single homogeneous market; the financial planning needs of someone with £250,000 to invest in a pension plan is very different from a client with £5m looking at passing on wealth and managing a legacy. Designing and delivering propositions for distinct needs is essential. ·      Brand Strategy– The major banks have “big” brands and distribution networks but do they have the associations of specialism and expertise? In WM the client relationship is often blurred between the corporate and the private banker/investment manager. This requires careful management to attract talent and support but also ensure the corporate brand is valued by the client.  ·      The UK market is currently dominated by specialists such as SJP and Rathbones rather than generalists. There are already different models at play – NatWest have Coutts; Lloyds have a partnership with Schroders; UBS have WM as their core business. HSBC and Barclays may need to tilt their master brand or carve out stronger sub-brands to build greater credibility in the UK.  Existing Players are not sitting on their hands.  In the UK regulatory call outs on fees and Consumer Duty challenges has seen the sector generally up its game in client focus. M&A activity continues with significant moves such as Rathbones combination with Investec Wealth bringing scale or Brooks Macdonald’s bid for Lift Financial strengthening capabilities across financial planning and WM. Winners and Losers? I think it’s all to play for. For both the big banks for whom WM is an increasing part of their portfolio and for established WM’s who are modernising their business, clarity of who the prospective client is for what service and how brands and distribution are deployed is easier said than done. For anyone wrestling with these challenges – feel free to reach out.

Forging value in the space of global payments

HSBC is making bold moves to reshape its global structure and meet the demands of a changing world. Here’s a look at the bank’s new direction and what it means: 🔹 GEOPOLITICAL ADAPTATION: By splitting into Eastern and Western divisions, HSBC can now tailor strategies to fit the unique needs of each region. 📍 🔹 FOCUSED GROWTH: 4 new units — 2 core regional bases in the UK and Hong Kong, along with separate divisions for corporate banking and wealth management—will enhance HSBC’s ability to lead in high-potential areas. 📈 🔹 CLIENT-CENTRIC APPROACH WITH LOCAL EXPERTISE: HSBC advertise itself as “The World’s Local Bank”. This split allows the bank to bring even more targeted, on-the-ground support to clients, especially in high-growth areas like the Middle East and Asia-Pacific. 🌏 While it’s a big shift, the goal is to keep local connections strong within a global framework. AND... 🔹 LEADERSHIP SHIFT: Congratulations to Ms. Pam Kaur, HSBC’s first female CFO in 159 years! Her expertise in risk and compliance will help guide the bank’s new strategy. 👏 As CEO Georges Elhedery puts it, these changes aim to “unleash our full potential and drive success into the future.” 🌠 Let's see what the future holds for HSBC... #HSBC #Banking #GlobalBusiness #Leadership #Finance #Geopolitics #LeongSee

HSBC's Private Banking and Wealth head steps down amid CEO Georges Elhedery’s strategic reshuffling, signaling new directions for the bank’s leadership and growth priorities. #LeadershipChange #PrivateBanking #HSBC #StrategicShift #WealthManagement

Broadridge hires Limouzi as Global Head of Post-Trade. Quentin Limouzi brings two decades of leadership experience in the front office space and across enterprise transformation programmes to the new role https://lnkd.in/eYzWK7c7 #SecuritiesLending #banking

Recognizing peers isn’t just about gratitude, it’s about uplifting each other to greater heights. Watch Murali Vaidyanathan Sr. President & Country Head, Branch Banking shares his insights on the importance of appreciation. #EmployeeAppreciationWeek! #Equitas #Equitasbank #beyondbanking #Beyondbanking #EmployeeAppreciationWeek #AppreciationMatters #EquitasCulture

Some interesting points in Citi private banking survey report including great optimism around 2025, but as always there is commentary on regulatory impact. If you'd like to know more about how Corlytics works with its clients on simplifying the implementation of regulations, regulatory change management and regulatory policy management then please get in touch for demo 📩👉 https://lnkd.in/e8chvMmW For full report 👉https://lnkd.in/ee72FKGk #regulation #regulatorycompliance #familyoffice #privatebanking Hannes Hofmann Alexandre Monnier