HSBC's revenue may fall as Asia's slowdown continues.
HSBC announced that Mark Tucker, currently CEO of AIA, will succeed Douglas Flint as group chairman as of Oct. 1. We plan to maintain our narrow moat rating, our Standard stewardship rating, and our $40/GBX 610/HKD 62 fair value estimates aside from foreign currency adjustments for HSBC. The appointment is unusual because it is the first time the bank has appointed an outsider to the role, indicating the need to spur further change in our view, while it continues to confirm the importance of Asi...
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