atans1

HSBC and karma

In Banks, China on 31/07/2015 at 12:51 pm
When I read in FT “Corporate giants sound profits alarm over China slowdown”, I tot of Gulliver’s plans to expand in the Canton region  https://atans1.wordpress.com/2015/06/11/hsbc-desperately-seeking-home-grown-john-cryan/

HSBC needs a new CEO.

But maybe after that glorious era of three great executive chairmen Sandberg, Purvis and Bond, we got to go thru Greens and Gulliver. That gut in between  the two G’s wasn’t too bad.

Which reminded me of this from NYT’s Dealbook:

WHY BARCLAYS C.E.O. WAS OUSTED In his three years as chief executive of Barclays, Antony Jenkins worked to change the bank’s culture to make it more risk-averse and to improve the bank’s capital, but that wasn’t enough for the bank’s directors, Chad Bray writes in DealBook. John McFarlane, the Barclays chairman, noted on Wednesday that the stock price was still around the same level it was six years ago and that the company’s dividend remained flat. Management’s plans to reward shareholders were “too far out in the future,” he said. Mr. Jenkins also differed with Thomas King, the head of the investment banking business, over the unit’s strategic direction, people with knowledge of the discussions told Mr. Bray.

 

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