HSBC to shutter 69 branches


HSBC to shutter 69 branches

HSBC is to shut a further 69 branches, leaving 400 front-line jobs at risk.

Questions linger for employees at HSBC

HSBC says western New York will be largely spared from its plan to cut 30,000 jobs worldwide, partly because of a billion dollar deal to sell its upstate branches to Buffalo-based First Niagara bank.

HSBC Pepper Robot

Pepper will be attending FinovateFall 2019!

HSBC Bank USA, N.A. and SoftBank Robotics America (SBRA), have partnered to bring Pepper®, the engaging, social humanoid banking robot, to HSBC’s bank branches to guide guests on how to make a deposit or apply for a credit card. To overcome traditional perceptions of retail bank branches, Pepper’s standard capabilities were customized to create a retail banking experience that will exceed expectations of U.S.consumers. HSBC will use Pepper in the branch to enrich the value and depth of customer engagements, and the overall branch experience, by offering customers information on products, services, and banking tools in a “self-service” atmosphere.

HSBC: Tax Evasion, Money Laundering for the Mafia & Currency Manipulation | HSBC Scandal Documentary

If HSBC were a country, it would be the fifth world economic power. Founded during the golden age of the Opium trade to enable the British Empire to access the Chinese market, it has created a unique network to move dirty money around the world. From tax evasion to money laundering for the mafia and manipulation of currency, “this bank had done everything bad that a bank can possibly do.”

In 2012, HSBC nearly lost its license to operate in the US for laundering the money of the Mexican and Columbian drug cartels. Criminal charges were filed and HSBC’s executives hauled before a Senate committee. But George Osborne, UK’s then Chancellor of the Exchequer, wrote to his counterpart in America and to the Chairman of the Federal Reserve to plead for leniency. He claimed that if HSBC received a harsh punishment, it would have serious repercussions on the world’s financial and economic stability. The letter worked and HSBC was fined 2 billion euros. The equivalent of one month’s profits.

As the center of international finance moves to Asia, HSBC is in prime position. It is the most Chinese of Western banks and the most European of Chinese banks. Protected by London, blessed by Beijing, who would dare attack it?

This documentary was first released in 2017.

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15 Things You Didn’t Know About HSBC

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