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HSBC Bermuda

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HSBC to cut 25,000 jobs globally

Tens of thousands of jobs are to be axed globally by HSBC, it was announced yesterday. However, what impact those cuts will have on the bank’s operations in Bermuda, if any, is not known. A spokeswoman for HSBC Bermuda said the bank had no comment at...
Jun 10, 2015
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HSBC Bermuda reviews account-holder details

HSBC Bermuda is scrutinising its account holders in a bid to crack down on tax evasion and money laundering, The Royal Gazette can reveal. The bank responded to questions from this newspaper after it was revealed its arm in Jersey, a UK Crown Depende...
Mar 19, 2015
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Top banker ‘would welcome competition’

HSBC Bermuda chief executive officer Richard Moseley says the bank welcomes competition after Finance Minister Bob Richards said he was looking at ways to “restructure the banking sector”. For a second successive year in the national Budget statement...
Mar 12, 2015
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Bank results highlight borrowers’ struggles

Many homeowners continue to struggle to make payments on their mortgages as Bermuda grinds through what has been described as its deepest credit crisis in at least half a century. Financial results released by HSBC Bank Bermuda Ltd yesterday revealed...
Mar 11, 2015
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HSBC Bermuda profits rise to $48m

HSBC Bank Bermuda Ltd posted net profit of $48 million in 2014, up $3 million from 2013, the bank said today. Revenue also climbed to $261 million, an increase of $19 million, or 8 per cent from the previous year. Net profit from operations in Bermud...
Mar 10, 2015
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Economic crisis leaves a retirement hangover

Bermuda residents are being urged to consider how they will fund their retirement as new data shows increasing strain on people’s retirement finances around the world. The long-term impact of the global economic downturn that hit in 2008 caused milli...
Feb 19, 2015
International Business

Bermuda links to Swiss HSBC accounts

More than $609 million in Bermuda-linked money was found in leaked documents about HSBC’s controversial Swiss private bank. One Bermuda client alone had $234.9 million stashed in Switzerland — one among around 65 clients connected to Bermuda and 183 ...
Feb 17, 2015
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Bank client: I wasvictim of an ATMskimming attack

A HSBC customer believes he has been the victim of a bank machine skimming attack after members of the public suffered a string of attacks earlier in the year. The customer said that he went to the ATM at Harrington Hundreds to withdraw money he had ...
Jan 12, 2015
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New bank cards after ‘skimming’ incident

HSBC is issuing new credit and debit cards to those who were affected by credit-card “skimming” this year, but denied rumours that there had been a second incident. Police announced in September that they were investigating an incident of skimming af...
Dec 01, 2014
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Economist: Fed to raise rates in June

A top bank economist has predicted the US Federal Reserve will jack up interest rates next June. HSBC’s Ryan Wang said the likely move signalled recovery in the American economy — and a divergence of policy from Europe and Japan. New York-based Mr Wa...
Oct 13, 2014
Other

HSBC marks ten years on Island with huge donation to education

Banking giant HSBC yesterday celebrated ten years in Bermuda with a massive $500,000 donation to education. HSBC donated $250,000 to the Reading Clinic and a further $250,000 to charity Knowledge Quest, which helps students struggling to pay for thei...
Aug 27, 2014
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Showing your colours

HSBC employees spent the afternoon handing out Cup Match flags to drivers along Front Street,in celebration of the island’s most anticipated cricket match, followed by a motorcade of motorcyclists and cars. (Photo by Nicola Muirhead)
Jul 22, 2014
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