HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.
Analysts at Fitch Ratings say Asia-Pacific banks' vulnerability rises as China’s growth is slowing and economists at multiple institutions cut GDP estimates for the country.
HSBC has promoted Kee Joo Wong tohead of payments and cash management for Asia-Pacific. He replaces John Laurens, who took up the top transaction role at DBS.
Valspar has added renminbi to its global cash pool currencies through a dividend payment to its US headquarters and has future plans for the Shanghai free trade zone (FTZ).