HSBC Bank Rumors: Where There’s Smoke, There’s Fire? (Video)
HSBC Bank Rumors: Where There’s Smoke, There’s Fire? Video by Wall St for Main St
The first to leave was former HSBC Bank CEO, John Flint, who was only CEO for 18 months. The bank posted solid Q2 2019 profits and beat analysts estimates.
Next to leave was HSBC Greater China Chief Executive Helen Wong
Finally, news came out today that Chief Risk Officer in Asia-Pacific, Mark McKeown is also retiring.
Can this be purely a coincidence? Did all 3 key executives plan to leave months ago and this was all announced in barely a week?
There’s 2 competing (or parallel?) theories now about what’s going on with HSBC Bank:
1) The Chinese government is really angry with HSBC Bank and is about to drop the hammer down on them because of HSBC’s role in getting the Huawei CFO arrested
2) Kyle Bass’ theory that HSBC loaned the People’s Bank of China (China’s central bank or PBOC) hundreds of billions of dollars recently to help prop up the RMB when it crossed through the 7 overhead resistance against the US Dollar and then the Bank of England (England’s central bank or BOE) found out about the enormous loan, told HSBC that they wouldn’t get a bailout if the loans to the PBOC went bad.