As the credit crisis mounted in 2008, Stuart Gulliver moved from his executive office on the 42nd story of HSBC Holdings Plc ’s London office to the trading floor on the fourth so he could oversee his employees directly.
HSBC Holdings Plc Chief Executive Officer Stuart Gulliver received a 1.95 million-pound ($2.9 million) bonus for 2012 even after the British lender paid a record fine for breaking anti-money laundering rules.
HSBC Holdings Plc, Europe’s biggest bank, slid in London and Hong Kong trading after profit missed analysts’ estimates and Chief Executive Officer Stuart Gulliver said fast-growing emerging markets are slowing.
HSBC Holdings Plc, Europe’s largest bank, will eliminate as many as 14,000 more jobs as Chief Executive Officer Stuart Gulliver set out plans to cut an additional $3 billion of costs as he tries to revive profitability.
HSBC Holdings Plc Chief Executive Officer Stuart Gulliver said the euro region’s “stresses” are similar to those suffered by Malaysia, Thailand and Indonesia in the 1990s as they pegged their currencies to the U.S. dollar.
HSBC Holdings Plc, Europe’s largest bank, posted full-year profit that missed analyst estimates as a cost-cutting drive fell short of targets and revenue shrank. The stock slumped in Hong Kong and London.