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Visa Inc. (NYSE:V) and HSBC Holdings, Plc. (NYSE:HSBC) have unveiled a technological partnership to support HSBC Group’s latest international payments app, Zing. Zing allows users to hold funds in more than 10 currencies, send over 30 currencies, and conduct transactions across over 200 countries and territories worldwide, all through a unified app and smart multi-currency card. Launched successfully in the U.K. in January 2024, it is set to expand to other markets soon. Also Read: Mastercard and Ant Group Expand Digital Payment Zones In Western Chinese Cities: Details Currencycloud and Tink facilitated rapid deployment for the Zing team by offering pre-built solutions integrated

Zing members are able to hold funds in up to 10 different currencies, send over 30 currencies, and transact in more than 200 countries and territories worldwideZing leverages Visa technology to empower UK members with international money needsVisa (NYSE:V) and HSBC (LON: HSBA) today announced the technological collaboration in support of HSBC Group's new international payments app, Zing. Zing enables users to hold funds in over 10 different currencies, send over 30 currencies, transact in over 200 countries and territories worldwide, all managed through a single app and smart multi-currency card. The app successfully launched in the U.K. in January 2024 and will expand to additional markets

Labour Party member Keir Starmer is set to become the new prime minister of the United Kingdom with a win over the Rishi Sunak-led Conservative Party. The win marks an end to 14 years of Conservative Party control in the United Kingdom. The Labour Party will also have one of the largest majority government leads in the country in 25 years, as reported by CNN. "A mandate like this comes with a great responsibility," Starmer said Friday. Starmer promised to put "country first, party second" in his victory speech. UK Stocks & ETFS: Gains for United Kingdom stocks and ETFs were minimal on Friday with the results of the election potentially priced in and others dissecting what the La

Drug traffickers chose to launder money through Citigroup Inc (NYSE:C) because they believed the bank had less stringent fraud controls, according to senior U.S. law enforcement officials, the Financial Times reports. In a recent indictment, U.S. prosecutors detailed how two California residents, allegedly linked to the Sinaloa cartel, deposited tens of thousands of dollars into Citi ATMs. Benzinga has contacted Citi for comments and will update the story with their response. Also Read: Bank Stress Tests ‘Much Bigger Surprise Than Expected,’ Will Delay Future Investment Plans: JPMorgan. The duo allegedly deposited almost $36,000 in January 2021 in increments below the $10,000 thr

HSBC Holdings Plc (NYSE:HSBC) looks to cut costs wherever possible. Europe's largest bank is pulling back on hiring and advising investment bankers to limit travel and entertainment expenses. HSBC is not replacing all recently departed staff. Instead, certain departments have been instructed to pause hiring altogether, though client-facing positions remain unaffected, reported Bloomberg. Investment bankers are required to schedule at least three client meetings per day during business trips to optimize travel. Employees were reminded of these expectations during a recent company town hall. HSBC emphasized in a statement that it’s working to manage costs in preparation for potent

On Friday, thousands of HSBC Holdings plc (NYSE:HSBC) customers in Britain reportedly faced difficulties accessing online banking services, as the bank reported an outage impacting its website and banking app. Without giving a reason for the outage, the lender said, “We’re really sorry that some customers are having issues accessing personal online and mobile banking,” reported Reuters. By 0846 GMT, over 7,000 customers had reported issues, according to DownDetector, a website that monitors such outages. As per the report, customers reported being unable to access their money or pay bills, according to posts on X. Related: HSBC To Announce New CEO By July To Stabilize Asia-Focuse

ABN Amro BK N V (OTC:AAVMY) is reportedly nearing a deal to buy HSBC Holdings plc‘s (NYSE:HSBC) wealth management unit in Germany. The transaction would extend ABN Amro’s expansion into Germany, Europe’s largest wealth management market, following last month’s EUR672 million euro ($730 million) purchase of Fosun’s private bank Hauck Aufhaeuser Lampe, reported Reuters citing the newspaper Boersenzeitung. As per the report, the takeover of the business, formerly known as Trinkaus & Burkhardt, could be announced within the next two to three weeks. HSBC is aiming to further overhaul its German operations and ABN stated it is focused on integrating Hauck Aufhaeuser Lampe and obtaining re

South Korea extended its short-selling ban on Thursday in an attempt to crack down on illegal “naked shorting” practices. What Happened: South Korea announced it would extend its ban on short selling to the first quarter of 2025, per Fortune. “The ban on short selling will be extended until March 30, 2025, to establish an electronic system to prevent naked short-selling and relieve concerns about such practices hindering fair pricing in the securities market,” the Financial Services Commission (FSC) said. The decision came after prominent firms, including HSBC Holdings PLC (NYSE:HSBC) and BNP Paribas ADR (OTCQX:BNPQY), were fined by South Korea in a crackdown on naked short selling.

HSBC Holdings plc (NYSE:HSBC) shares are trading lower today. HSBC Bank (China) Company Limited finalized the acquisition of Citigroup Inc’s (NYSE:C) retail wealth management portfolio in mainland China. HSBC has also transitioned over 300 employees as a part of this integration. This deal shows HSBC’s ongoing improvement in wealth services in China and Asia. The investment assets, deposits, and associated wealth customers from 11 major cities in mainland China have been integrated into HSBC China’s Wealth and Personal Banking (WPB) operations. In the first-quarter of 2024, HSBC in mainland China nearly doubled Net New Invested Assets (NNIA) Y/Y, contributing to Asia’s 33% NNIA grow

HSBC today announced that Danielle Johnson has been appointed Global Head of Institutional Client Group (ICG) within the Global Banking and Markets business. In this role, she will be responsible for strengthening the coverage of institutional clients, particularly Western headquartered clients, who conduct business globally. Johnson's appointment is effective as of June 3. Based in New York City, Johnson will report to Lisa McGeough and Gerry Keefe, Co-Heads of Global Banking Coverage. "Danielle's impressive experience in banking will be pivotal as we focus on the highest-potential client partnerships to deepen our institutional relationships and increase market share," said McGeough.

HSBC announced today the appointment of Andrew Fullam as Chief Financial Officer (CFO) for the US and Americas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240313633425/en/Andrew Fullam, HSBC Chief Financial Officer for the US and Americas (Photo: Business Wire) In this role, he will be responsible for the region's financial operations, including accounting, regulatory reporting, stress testing and capital management. Fullam rejoins HSBC from Wells Fargo where he served as Head of Enterprise Financial Planning & Analysis since the beginning of 2023. Based in New York, Fullam will report to Michael Roberts, CEO, US and Ameri

Edith Avilés is the newest Board Member of HSBC North America Holdings Inc. (HNAH) and HSBC Bank USA, N.A. (HBUS) HSBC Bank USA announced today the recent appointment of Edith Avilés to the HSBC North America Holdings Inc. (HNAH) and HSBC Bank USA, N.A. (HBUS) Boards of Directors, effective January 1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240207501418/en/(Photo: Business Wire) Avilés has 30 years of investment banking experience across US, European and Latin American markets. In 2022, she retired from investment management firm Natixis S.A., where she most recently served as the Vice Chairman and Executive Committee M

HSBC USA announced today that Racquel Oden has been appointed Head of Wealth and Personal Banking. In this role, she will oversee the bank's wealth management, global private banking and retail businesses in the US. She will join the bank in December. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230918121302/en/Incoming US Head of Wealth and Personal Banking Racquel Oden (Photo: Business Wire) Based in New York, Oden will report to Michael Roberts, CEO, US and Americas, and Juan Parma, Head of Wealth and Personal Banking Americas. "We're thrilled to welcome Racquel to HSBC," said Roberts. "The Wealth and Personal Banking bus

HSBC Bank USA announced today that Alyssa Marois has joined HSBC as Senior Vice President of Public Affairs. She will be based in Washington, D.C. and will report to Christopher Rosello, US Head of Public Affairs. "Alyssa's experience in both the federal government and financial services industry adds significant value to our team as we work closely with policymakers, regulators, and elected officials," said Rosello. "We are excited to utilize Alyssa's exceptional skillset to further support HSBC's policy priorities." In her new role, Marois will represent the firm with regards to public policy and government relations and be responsible for engaging members of Congress and the regulatory

HSBC Global Commercial Banking today announced that Martin Richards has been appointed Global Head of Sustainable Finance – Client Infrastructure for Commercial Banking. In this role, he will focus on delivering market-leading sustainable finance solutions that support the full ecosystem surrounding our clients' transition ambitions. "We are thrilled that Martin will help our coverage teams deliver sustainability solutions to customers around the world," said Barry O'Byrne, CEO of Global Commercial Banking. "Martin's dedication to our customers and their sustainable financing ambitions will position HSBC as a market leader." Previously, Richards served as the US Head of Corporate Banking