Hong Kong
05 May 2017
Reporter: Mark Dugdale

HSBC sees securities services revenue bump


HSBC achieved a 12 percent increase in securities services revenue during Q1 2017.

The bank’s securities services revenue increased by $42 million during the first three months of 2017.

Revenue rose from $363 million to $405 million year over year, and from $391 million quarter over quarter.

Securities services was not representative overall for HSBC, whose revenue of $13 billion was down 13 percent due to currency translation differences and other issues, although adjusted profit before tax of $5.9 billion was up 12 percent year over year.

Stuart Gulliver, group chief executive at HSBC, said: “This is a good set of results. The increase in adjusted profit was driven by strong performances in three of our four global businesses.”

More Industry news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Firms remain open to exposures from manual processes
13 December 2017 | New York | Reporter: Becky Butcher
Only 2 percent of capital markets companies have a fully automated compliance support programme, leaving firms open to risk from manual processes, according to a survey by Aite Group and Cordium
Cyber attacks and Brexit among concerns for 2018, according to DTCC survey
12 December 2017 | New York | Reporter: Jenna Lomax
Cyber risk remains the number one threat to financial stability in 2018, according to a new survey published by the Depository Trust & Clearing Corporation
BACS has the need for speed, according to global custody audience
07 December 2017 | London | Reporter: Jenna Lomax
There needs to be more of a collaboration and a sense of partnership between global custodians, according to panellists at this year’s Global Custody Forum
GCF: Emerging markets continue to play important role globally
06 December 2017 | London | Reporter: Becky Butcher
Emerging markets are playing an increasingly important role in the global economic system, according to Global Custody Forum keynote speaker Rohinton Mewawala
SmartStream expands India operations
06 December 2017 | Jaipur | Reporter: Stephanie Palmer
SmartStream has opened a new office in Jaipur, India, initially to serve a particular tier-one investment bank
Canadian deals abound for Broadridge
05 December 2017 | Toronto | Reporter: Stephanie Palmer
Broadridge Financial Solutions has been selected to provide its suite of wealth and fund management technology solutions to Worldsource Financial Management, and partnered up with Wealthsimple on automated investment management
FRS expands to Asia
01 December 2017 | Hong Kong | Reporter: Stephanie Palmer
Financial Risk Solutions has opened its first two offices outside of Europe, in Hong Kong and Malaysia
More Industry news