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HSBC's restructuring of its Asia division has resulted in a significant loss of senior roles for women, with only two out of 15 new positions going to female executives. Notable departures include Christina Ma and Amanda Murphy, while the majority of top roles in key markets were filled by men. Despite this, HSBC maintains that diversity remains a priority, with women holding 34.6% of senior leadership roles in 2024, a slight increase from the previous year.
HSBC's restructuring has resulted in a significant loss of senior roles for women in Asia, with only two out of 15 positions filled by female executives. Notable departures include Christina Ma and Amanda Murphy, while the bank's CEO emphasizes diversity as a priority despite the recent appointments favoring men. Overall, women hold 34.6% of senior leadership roles at HSBC, a slight increase from the previous year.
HSBC's recent restructuring in its corporate and institutional banking division has led to a decline in women's representation in senior roles across Asia, with only two out of 15 appointments going to women. Notable female leaders, including Christina Ma and Amanda Murphy, lost out in the reorganization, prompting internal discussions about diversity. Despite this, HSBC maintains a commitment to diversity, with women holding 34.6% of senior leadership positions overall, slightly up from the previous year.
Phoenix Venture Partners has completed the second closing of its $50 million Innovation Fund, aimed at supporting early-stage startups in the MENA region. The fund will focus on high-growth sectors such as fintech, healthtech, edtech, and sustainability, reflecting strong investor confidence and alignment with regional economic initiatives. This milestone positions PVP to drive innovation and economic growth in the fast-evolving startup ecosystem.
Mintoak, a Mumbai-based fintech startup backed by PayPal, has acquired Digiledge for $22.9 million. Digiledge, specializing in bill payments and Central Bank Backed Digital Currency (CBDC), will operate as a subsidiary, enhancing Mintoak's offerings to small enterprises.Mintoak, which processes $3.4 billion monthly for three million merchants, aims to leverage Digiledge’s capabilities to facilitate digital currency transactions and expand its services further, having already extended its reach to Kuwait, UAE, Tanzania, and Mauritius.
HSBC is restructuring its leadership in Asia to streamline operations by assigning additional responsibilities to country heads in smaller markets. Effective March 1, Peter Kim and Tim Evans will take on dual roles in Korea and Vietnam, respectively, while other leaders in Malaysia, Taiwan, and Thailand will also assume additional duties. The changes aim to enhance service delivery and support strategic objectives, as CEO Georges Elhedery continues to implement cost-reduction measures and simplify the organizational structure.
HSBC's restructuring, initiated by former CEO Noel Quinn, has led to a significant reduction in costs and improved profitability, particularly in Asia. Current CEO Georges Elhedery continues this strategy, focusing on strategic investments while cutting back on underperforming divisions in Europe and North America. The bank is set to achieve its best ten-year earnings per share in 2024, reflecting a strong recovery in investor confidence, although concerns about the Chinese real estate market persist.
The Bank of Mauritius is seeking to reduce its involvement in the Mauritius Investment Corp. (MIC), an investment fund established during the Covid pandemic. Launched in June 2020 with an initial capital of 81 billion rupees ($1.74 billion), the MIC aimed to support key economic operators and preserve jobs during the crisis. Governor Rama Krishna Sithanen announced this intention during a press briefing in Port Louis.
Companies must comply with regulations to ensure ethical operations and maintain consumer trust. Economic indicators like GDP and inflation significantly influence the growth and profitability of the Healthcare AI sector, guiding businesses in decision-making. The Healthcare AI Market report offers comprehensive insights, including market size, regional analysis, and customization options for clients.
Foreign direct investment (FDI) in India surged by 45% year-on-year to $29.79 billion during April-September 2024, driven by strong inflows in services, telecom, and pharma sectors. The April-June quarter alone saw a 47.8% increase, totaling $16.17 billion. Maharashtra led the states with $13.55 billion in FDI, followed by Karnataka and Telangana.
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hsbc restructuring leads to loss of senior roles for women in asia
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hsbc faces criticism as women lose senior roles in restructuring effort
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hsbc leadership changes reduce women's representation in senior banking roles
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hsbc restructures leadership in asia to enhance operational efficiency
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