HSBC

DGAP-News: Commerzbank retains securities settlement in-house - outsourcing project stopped

Thursday, July 22, 2021 - 3:09pm

Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.

Key Points: 
  • Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.
  • Since the launch of the outsourcing project in 2017, the market and technological environment have undergone substantial change.
  • "After careful consideration, we have taken the decision to stop the outsourcing project owing to the high implementation risks.
  • The significant growth in trading volume and the ongoing technological development are allowing us to continue securities settlement profitably," commented COO Jrg Hessenmller.

Commerzbank retains securities settlement in-house - outsourcing project stopped

Thursday, July 22, 2021 - 3:08pm

Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.

Key Points: 
  • Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.
  • Due to the project stop, the Bank is anticipating an exceptional write-off of around 200 million in the second quarter of 2021.
  • Since the launch of the outsourcing project in 2017, the market and technological environment have undergone substantial change.
  • "After careful consideration, we have taken the decision to stop the outsourcing project owing to the high implementation risks.

Commerzbank Board of Managing Directors stops project for outsourcing securities settlement - Exceptional write-off of around €200 million necessary

Thursday, July 22, 2021 - 3:08pm

Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.

Key Points: 
  • Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.
  • The reasons for the decision are technical implementation risks and changed market conditions.
  • Due to the project stop, the Bank is anticipating an exceptional write-off of around 200 million in the second quarter of 2021.
  • The exceptional write-off will not impact the liquidity or the Common Equity Tier 1 (CET1) capital of the Bank.

IQT Research Finds That Financial Services Will Spend $450 Million on Quantum Computing by 2026

Thursday, July 15, 2021 - 1:44pm

The new IQT Research report, Quantum Computing in Financial Services: Requirements, Applications and Expenditures , provides an assessment of which quantum computing capabilities will be most useful to financial firms, along with profiles of specialized service providers such as QuantFi, JoS QUANTUM, Nordic, Quantum Computing Group (NQCG), Multiverse Computing, Quantum Mads, QC Ware and 1Qbit.

Key Points: 
  • The new IQT Research report, Quantum Computing in Financial Services: Requirements, Applications and Expenditures , provides an assessment of which quantum computing capabilities will be most useful to financial firms, along with profiles of specialized service providers such as QuantFi, JoS QUANTUM, Nordic, Quantum Computing Group (NQCG), Multiverse Computing, Quantum Mads, QC Ware and 1Qbit.
  • The primary research included interviews with leading financial institutions as well as on the ongoing interviews carried out by IQT Research throughout the quantum technology sector and end-user base.
  • Quantum computing strategies of eighteen financial institutions profiled.Many of the largest banks and other financial institutions already have substantial quantum computing teams in place.
  • IQT Research believes that quantum computing has the potential to disrupt financial services to the same degree that occurred with digital computing and high frequency trading in the past.

Troy Dehmann joins Beazley as Chief Operating Officer

Tuesday, July 13, 2021 - 1:00pm

London, July 13, 2021 (GLOBE NEWSWIRE) -- Beazley has appointed Troy Dehmann as Chief Operating Officer (COO) with immediate effect.

Key Points: 
  • London, July 13, 2021 (GLOBE NEWSWIRE) -- Beazley has appointed Troy Dehmann as Chief Operating Officer (COO) with immediate effect.
  • Troy brings more than 20 years of leadership experience in finance, operations and business transformation within the financial services sector.
  • Troy spent almost seven years at HSBC in London, with roles also including Global COO of Business Finance and Global Head of Cost Management.
  • Troy Dehmann, COO, said: I am thrilled to join Beazley at this time as we continue to scale and strengthen our operational capability.

Huawei Canada Media Statement

Friday, July 9, 2021 - 10:50pm

VANCOUVER, BC, July 9, 2021 /CNW/ - We respect the court's ruling, but regret this outcome.

Key Points: 
  • VANCOUVER, BC, July 9, 2021 /CNW/ - We respect the court's ruling, but regret this outcome.
  • Even though the court did not permit Ms Meng to introduce additional evidence, the new documents demonstrate clearly that HSBC, including its senior executives, were aware of Huawei's relationship with Skycom and its business in Iran.
  • It shows that the Unites State's Record of the Case (ROC) and Supplemental ROCs are manifestly unreliable.
  • The hearings will continue, and as always we support Ms Meng in her pursuit of justice and freedom.

The New Hybrid Work Home / Office Model and How Cloud Companies are Profiting

Friday, July 9, 2021 - 1:00pm

In recent news , companies like HSBC, KPMG and Deutsche Bank said they would be implementing a "hybrid" strategy which will see employees share their workload between home and office.

Key Points: 
  • In recent news , companies like HSBC, KPMG and Deutsche Bank said they would be implementing a "hybrid" strategy which will see employees share their workload between home and office.
  • Companies are finding the hybrid model of allowing their employees to work part-time at home and part-time at the office is working.
  • Companies have found that heavy collaboration, such as product development or strategy is best served in person - the hybrid model allows for both.
  • DeskFlex added vaccine management to allow companies to track the percentage of employees who are vaccinated.

HSBC Asset Management Finances the Launch of RadiantESG Global Investors

Thursday, July 1, 2021 - 3:39pm
Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20210701005634/en/
    With HSBC Asset Managements backing, Radiant ESG will become RadiantESG Global Investors, a female-owned, independent asset management firm focused on next generation ESG investment opportunities for institutional and wealth management clients worldwide.
  • These shared values form a strong foundation for the cultural and philosophical alignment between HSBC Asset Management and RadiantESG.
  • This announcement follows last years launch of HSBC Pollination Climate Asset Management, a joint venture between HSBC Asset Management and Pollination, a climate change advisory and investment firm, to create the worlds largest dedicated natural capital asset management company.
  • HSBC Asset Management is the brand name for the asset management business of HSBC Group, which includes the investment activities provided through HSBC Global Asset Management (USA) Inc.
    HSBC Holdings plc, the parent company of HSBC, is headquartered in London.

Huawei Canada Media Statement

Tuesday, June 29, 2021 - 10:11pm

VANCOUVER, BC, June 29, 2021 /CNW/ - From June 29-30, Meng Wanzhou will seek to introduce into evidence before the BC Supreme Court various HSBC documents.

Key Points: 
  • VANCOUVER, BC, June 29, 2021 /CNW/ - From June 29-30, Meng Wanzhou will seek to introduce into evidence before the BC Supreme Court various HSBC documents.
  • These HSBC documents demonstrate the false and misleading nature of the US's Record of the Case, on which the Canadian courts are being asked to rely.
  • These documents, consisting of emails and other HSBC records, show there is no evidence of fraud on HSBC.
  • Please see the following statement:
    "As the case enters its next phase, Huawei remains confident in Meng Wanzhou's innocence.

CloudBees Names Prakash Sethuraman as Chief Information Security Officer

Tuesday, June 22, 2021 - 2:14pm

CloudBees , the enterprise software delivery company, today named Prakash Sethuraman as chief information security officer (CISO).

Key Points: 
  • CloudBees , the enterprise software delivery company, today named Prakash Sethuraman as chief information security officer (CISO).
  • View the full release here: https://www.businesswire.com/news/home/20210622005741/en/
    Prior to his appointment at CloudBees, Sethuraman worked at HSBC.
  • As CISO, Sethuraman will lead the security strategy for CloudBees and the companys product line.
  • Sethuraman brings extensive experience gained through his career leading digital and security initiatives for organizations in highly regulated industries that depend on mission critical applications.