HSBC's ties to tycoon reaps benefits

Hong Kong

HSBC has shot to second rank among banks advising Asian firms on merger deals, its highest ever, due to ties to one man: Hong Kong tycoon and the region's richest man, Li Ka-shing.

Reuters reports that the rise from 19th place is the product of a strategy championed by Chief Executive Stuart Gulliver of increasing collaboration between lending operations and its investment bank, by encouraging borrowers to also hire HSBC for deals.

As the biggest bank in Hong Kong by loans extended, HSBC has long been the lender of choice for Li's firms. But the bank has often taken a back seat to investment banks such as Goldman Sachs in advising on Li's deals.

To access the complete Reuters article hit the link below:

HSBC's tycoon ties propel it to highest-ever rank as Asian deal advisor

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