HSBC to cease read more wealth management business in some MidEast countries
2. The German companys focus on light and slim seats, which are in use on many Deutsche Lufthansa AG (LHA) jets, has helped Recaro gain an edge on its larger competitors, Hiller said. Hiller predicted the market for seats will grow to 2.8 billion euros ($3.71 billion) by 2018 from 2.2 billion this year, with business-class versions contributing the majority of growth. Seats still make up only 2 percent to 3 percent of total purchasing costs for an aircraft, the executive said.
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What Business Leaders Really Think About Cloud
“HSBC’s global strategy for retail banking and wealth management is to offer and grow the wealth business in markets where we can achieve scale,” the bank said in a statement issued to Reuters on Sunday. “After a detailed review of our MENA business, we will discontinue sales of any new wealth investment or wealth insurance products in Lebanon, Jordan and Bahrain from October 7, 2013.” Existing customers will continue to receive basic services and their wealth management-related investments will be maintained until maturity, the lender said, adding the decision has not prompted job losses. The lender, one of the largest international banks in the region with a presence in 14 Middle Eastern countries, has informed employees about the decision internally and those affected will be absorbed by other teams within HSBC’s retail and wealth management division, one banking source said, asking not to be identified as the matter is not public. HSBC’s wealth management operations fall under its retail and wealth management division.
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In a part quantitative, part qualitative study, executives provided views on technologies paving the way for business innovation. About 75% of the respondents are CIOs or CTOs, and more than two-thirds in companies with greater than $1 billion in revenue. The main takeaway: Executives recognize the cloud means more than very efficient IT. As Saugatuck CEO Bill McNee explains it, top executives recognize that cloud and its related disruptive technologies is not only about cost savings and internal process improvement, but about innovating the way that companies engage with customers and partners, and in terms of their ability to deploy profitable new business models. Some highlights from the study: Executives recognize the potential opportunities cloud is creating for their organizations. More than two-thirds, 68%, of the C-level executives ranked cloud as very important or extremely important, while none rated cloud as not important.As the CFO of a large manufacturing company put it: Cloud adoption favorably impacted our ability in manufacturing traceability and quality with our cloud ERP system to meet customer requirements for the better.
For the original version including any supplementary images or video, visit http://www.forbes.com/sites/joemckendrick/2013/08/31/what-top-business-leaders-really-think-about-cloud/