Author Archives: Xing Yan Chen

HSBC’s website emphasizes their long-term strategy is sustainability and “HSBC believes long-term success and good corporate behaviour are linked.” In fact, HSBC really failed the stakeholders and governments’ expectations according to the laundering scandal. HSBC violated their promises on “achieving long-term profit … Continue reading →

Since the laundering scandal has been discovered, HSBC cuts 47000 jobs in Europe. Around 35000 employees are layoff in global and try to cut its expenses. Moreover, HSBC tries to cut more employees about 1149 in the wealth management division … Continue reading →

Image source:http://blog.optionsclick.com/2012/07/17/weak-sales-data-adds-pressure-on-fed-reserve/ HSBC agreed to a record $1.92 billion settlement with U.S authorities over charges that it laundered billions of dollars tied to Latin American drug cartel, so called “rogue states,” and foreign terrorist organizations. The U.S Department of Justice … Continue reading →

There are several individuals or organizations responded to the scandal. First of all, it’s the bank itself. HSBC started to response to the scandal by themselves before everyone else. According to “Insight: Brand Health Check-HSBC cleans up after money laundering,” … Continue reading →

According to their main website, it shows that HSBC is already having a competitive long-term strategy. Their strategy is aligned to two long-term trends, which are financial flows and economic development. In their word, “HSBC is one of the few truly international … Continue reading →