Dr Peter Hahn, ifs University College’s Henry Grunfeld Professor of Banking today gave his thoughts on HSBC’s latest results and the overall prospects for global investment banking.
It was an early start for Dr Hahn, who firstly appeared on BBC Radio 4’s Today Programme at 6.15am before he moved to the television studios to appear on BBC Business Live.
Speaking on BBC Radio 4's Today Programme, Dr Hahn said:
""Generally, I think it's quite favourable for HSBC... What we've seen with HSBC is shrinking it's book of business in North America... and moving a little bit of growth in Europe, not too bad in Asia....HSBC seems to be executing on it's strategy to focus more on Asia.
""I think what we're looking at is a bank that's differentiating itself. It's becoming more of a 'pivot' to Asia, so as banks were all the same a few years ago, trying to be everywhere and everything to everyone, it's quite clear that HSBC is becoming more dependent on Asia.""
You can listen to Dr Hahn's interview here at 17:21 minutes.
Dr Hahn appeared on BBC Business Live to again speak about HSBC and the prospects for investment banking.
""Investment banking largely has been hit by a slowdown of the volume of business... If you think about some of the other banks that have announced earnings this morning - those that had businesses that were much more market focused, or their investment banking was in a niche or big market players have suffered more.""
You can watch Dr Hahn's interview here at 03:56 minutes.