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Dispatches: Asia key to HSBC profits

HSBC has reported interim net profit growth of 28.9 per cent to HK$28.7bn. The surge comes amid market diversification and substantial opportunities. “Asia remains the bedrock of our profitability,” group chief executive Michael Geoghegan said. HSBC’s Asia-Pacific arm accounted for 58 per cent of the lender’s underlying profit. (The Standard)

Following its recent snaring of Tan Su Shan from Morgan Stanley, Singapore’s DBS Private Bank has made two more big hires, underlining its commitment to expanding in wealth-management and signalling a shift in client advisory strategy. (Finance Asia)

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