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HSBC misses Q4 estimates as Gulliver hands over CEO baton to Flint

It took losses from two high-profile corporate fallouts and posted a sharp decline in trading income at its investment bank

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The losses helped drive down HSBC’s adjusted pretax profit to US$3.6 billion in Q4. A black mark for Mr Gulliver return on equity for 2017 came in at 5.9 per cent, far below the bank’s target of 10 per cent.

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The losses helped drive down HSBC’s adjusted pretax profit to US$3.6 billion in Q4. A black mark for Mr Gulliver (above): return on equity for 2017 came in at 5.9 per cent, far below the bank’s target of 10 per cent.

London

STUART Gulliver's final set of results at HSBC Holdings Plc weren't quite the swansong he'd hoped for as he hands the reins over to his long-term lieutenant, John Flint.

Europe's largest bank missed estimates for fourth-quarter revenue and profit as it became the latest firm...

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