Latest news with #HSBCUK
ITV News
a day ago
- Business
- ITV News
Birmingham Pride celebrations to return to Gay Village in 2026
Birmingham Pride celebrations will return to the heart of the Gay Village in 2026. The festival has been held at the Smithfield site for the past four years but that area is now undergoing redevelopment. Work will begin later this year to develop the 17-hectare site into 3,000 homes, restaurants and event space, costing £1.9 billion pounds. The plans mean that Pride needs to move from the site to a new home - and there was uncertainty around where that might be. It is hoped that bringing the festival back to the Gay Village will result in a more community-focused event. "Our departure from the Smithfield site provides the ideal opportunity to reshape Birmingham Pride and consider wider community feedback", organisers said in a statement. "This change reflects a wider commitment to realign Pride with its founding values of protest, inclusion, and grassroots celebration". The team also said, as part of the change, it wanted to "evolve its approach to sponsorship". The statement said: "With HSBC UK's title sponsorship concluding this year, we thank them for their support over the past decade. The partnership benefited local LGBTQ+ charities, community groups and not-for-profit organisations across our region, enabling them to secure funding to deliver services and undertake important work in the community. "We warmly welcome interest from other organisations that share our values and wish to play a meaningful role in the next chapter of Birmingham Pride and the Pride movement." Lawrence Barton, Festival Director, said: "This is a pivotal moment for Birmingham Pride. As the Pride movement continues to evolve, we believe it is the right time to realign our festival with its core values, protest, inclusion, andgrassroots celebration. "Our return to the Gay Village symbolises more than just a change of location, it represents a renewed commitment to the communities that built this event from the ground up." "We are grateful to HSBC UK for their support over the last seven years. Their partnership has had a meaningful and lasting impact on LGBTQ+ communities across Birmingham and the West Midlands." Birmingham Pride will take place in May 2026.
Belfast Telegraph
4 days ago
- Automotive
- Belfast Telegraph
Wrightbus unveils new zero-emission prototype
The Ballymena-based company said it already had orders for the Far East and Europe lined up for its 6x2 Streetdeck. The company said it was the latest launch from the company in a 'record-breaking' year, in which it also announced a new electric midi-bus range as well as a next-generation hydrogen coach, diesel coach and a hydrogen double decker. Wrightbus now employs more than 2,300 people and is making 1,200 buses a year, which are mainly zero-emissions. CEO Jean-Marc Gales said the 6x2 was a 'triumph of engineering'. 'Our team has worked round the clock for the last two years to create this new zero-emission product,' he said. 'To design a chassis which copes not only with fixed axle and steering axle configurations but also enables increased battery capability without compromising on passenger numbers is a real triumph for our engineers.' Tests will be carried out over the summer, with a demonstrator model set for a customer in Hong Kong for 12 months. Mr Gales said there were also sales opportunities in Singapore, Australia, New Zealand and the UK. 'We are building momentum not just in our home territories but overseas as well, as news or our brand reaches all corners of the globe,' he said. He said there were more than 100 of its hydrogen buses headed for Germany, as well as fleets of hydrogen and battery-electrics around the UK. UK unemployment jumps to highest since 2021 as wage growth slows The company recently announced a £150m finance package from HSBC UK as it prepares to ramp up production. Mr Gales added: 'We've invested into our growth significantly over the last 12 months, with more staff in Ballymena and Malaysia, new facilities for our repowering business - NewPower - in Bicester, and a European service centre in Brühl to ensure we have operational capacity to exceed customer demand. "Wrightbus also supports 7,500 jobs in the wider supply chain so our growth is great for the wider economy too.' Wrightbus was rescued from administration by entrepreneur Jo Bamford in 2019.
Yahoo
10-07-2025
- Business
- Yahoo
HSBC UK unveils wealth centre to attract affluent clients
HSBC UK has established its first dedicated Wealth Centre in London, indicating a significant commitment in tailored financial services for affluent customers. The $5m hub, located on the top floors of Smithson Tower in the heart of St James's, is intended to serve as a premium destination for the bank's Premier and Private Banking clients. Moreover, the move is part of HSBC's larger aim to extend its wealth management footprint in the United Kingdom, building on the success of its Asian and other global financial hubs. The new workspace takes up the seventh and eighth floors of the historic skyscraper and includes customised conference areas for relationship managers to welcome customers by invitation only. It also has an open-plan event room on the eighth level for private lectures, educational sessions, and networking gatherings. Christopher Dean, Managing Director of Premier, Wealth and Personal Banking at HSBC UK, said: 'Our brand-new wealth centre is a significant anchor point in the UK; a prestigious location for us to both welcome our customers and open international corridors. 'We know that as people work through financial milestones, their wealth needs tend to become more sophisticated. While a stand-out digital offering remains essential, and we continue to invest in enhancing those capabilities, our customers really value face-to-face interactions and deeper relationships when it comes to managing their finances. The centre is a dedicated space for us to offer customers this valued face-time. 'Our data also shows that Premier customers value the branch network, which is why we're also investing in creating premium spaces for our Premier customers in more than 50 branches, maximising opportunities for those in-person moments that matter.' The decision comes as HSBC UK aims to become one of the top five wealth managers in the country. To further this goal, the bank is renovating 50 of its flagship branches to incorporate dedicated Premier lounges. Belgravia, Muswell Hill, Leeds Park Row, and Leicester have already had their sites updated, with more planned before the end of the year. At the same time, the bank is expanding rapidly, with plans to hire 50% more Premier relationship managers and similar positions around the country. This surge in investment is coupled with recent service enhancements, including a reduction in the financial advice fee for Premier customers to 1%, the rollout of a new switching incentive, and a lowered threshold for accessing Premier Investment Management. HSBC has a long history of developing wealth centres around the world. In the last year, it has opened comparable hubs in Hong Kong, Singapore, Malaysia, Taiwan, and mainland China. According to the bank's global data, affluent consumers are increasingly looking to diversify their portfolios globally, with the UK remaining a top three investment destination. "HSBC UK unveils wealth centre to attract affluent clients" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Fashion Network
10-07-2025
- Business
- Fashion Network
Mulberry secures £20 million as sales fall 21% and transformation plan begins
For the 52 weeks ended 29 March 2025, Mulberry recorded revenue of £120.4 million, down from £152.8 million the previous year. The brand also posted an underlying loss before tax of £23.7 million, slightly wider than the £22.6 million loss recorded the year prior. The newly secured capital will accelerate Mulberry's 'Back to the Mulberry Spirit' transformation plan, which aims to streamline operations, reduce costs, and close 12 underperforming stores across Asia. The brand also intends to reinforce its wholesale strategy by expanding partnerships with premium department stores in the U.K., U.S., and Australia. Mulberry expects to achieve £5.9 million in annualised cost savings. It has also secured £6.5 million in liquidity relief from HSBC UK, matched by a guarantee from Challice Limited, one of its major shareholders. For the nine weeks to 1 June 2025, the group's revenue declined by 18% year-on-year, with retail and digital sales falling by 17%. However, Mulberry noted early signs of stabilisation in key markets including the UK and North America. Chief executive officer Andrea Baldo is leading the brand's renewed focus on its British heritage, aiming to reconnect with loyal domestic customers. This heritage-driven repositioning forms part of a broader plan to drive revenue beyond £200 million and reach a medium-term adjusted earnings-before-interest-and-tax (EBIT) margin of 15%.
Business Times
09-07-2025
- Business
- Business Times
HSBC expands UK wealth bet in race to £100 billion asset goal
[LONDON] HSBC Holdings is ramping up growth plans for its UK wealth-management operations as Europe's largest bank seeks to double the assets it oversees for well-heeled individuals in its home nation. The London-based lender is undertaking a recruitment drive for bankers to cater to affluent, high-income and super-rich individuals, according to a statement and interview on Tuesday (Jul 8). The bank is also opening 50 dedicated spaces this year to bolster its wealth services in flagship branches across Britain. Building on similar efforts in Asia, HSBC launched its first UK wealth centre this week in London's St James's district to boost services for ultra-wealthy individuals at its private banking division and affluent clients in the so-called 'Premier' unit, which is hiring about 200 staff this year. 'We are going all out,' Christopher Dean, managing director of HSBC UK's premier, wealth and personal banking divisions, said in an interview at the new wealth centre on Tuesday, where relationship managers can meet clients in art-walled rooms named after London's royal parks. 'In the kind of markets that we're just talking about, there's a massive opportunity,' he added. The moves form a key part of HSBC UK's ambitions announced last year to double the assets it oversees to £100 billion (S$174 billion) by 2028. The bank is pressing on with expansion plans even as the nation faces a surge in the number of wealthy individuals leaving due to tax hikes. One of the most controversial moves from Keir Starmer's Labour government was scrapping a regime for so-called 'non-doms', with Labour going further than measures outlined last year from the then-ruling Conservative Party by exposing rich foreigners' overseas assets to UK inheritance tax. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The UK government is betting that its changes to the system, which allowed international investors and entrepreneurs to avoid levies on earnings from outside the UK, will bring about £33 billion in extra taxes in the coming years. A wave of think tanks are contesting those figures, however, warning of the threat to jobs and economic growth, while billionaires such as founder Guillaume Pousaz and Egypt's richest man, Nassef Sawiris have recently exited the UK. HSBC is seeing disruption among clients due to the non-dom reforms but it's still bullish on Britain's population of ultra-wealthy individuals and plans to hire staff targeting that group as well, HSBC UK chief executive officer Charles Boulton said on Tuesday. The UK has about 2,600 US dollar-millionaires, the sixth-most worldwide, according to research published this year from UBS Group. 'The number of people moving here has dropped,' Boulton said in an interview at the wealth hub, which neighbours the five-star Ritz Hotel. But 'the UK remains a centre for clients to come for professional services,' and 'we are convinced that therefore the opportunity remains'. HSBC has joined Wall Street giants such as Goldman Sachs in focusing more on wealth management during recent years to help provide more stable profits, and chief executive officer Georges Elhedery has sought to build on that shift since taking charge in September. HSBC has already completed refurbishing lounges for Premier customers in other parts of London, Leeds and Leicester, while the bank also plans to host private functions at its St James's premises, after opening similar hubs in Asian territories including China and Hong Kong. 'This is something that we are taking seriously,' Boulton said on HSBC's wealth-management services. Establishing the new building 'has been part of that story'. BLOOMBERG
