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Investment Banking

HSBC investment banking fees slip 10% in the first quarter

The UK lender did not follow Wall Street rivals with dealmaking gains

Noel Quinn announced he was stepping down as CEO alongside the first-quarter results
Noel Quinn announced he was stepping down as CEO alongside the first-quarter results Photo: Getty Images

HSBC’s dealmaking fees slipped by 10% in the first quarter of 2024, as the UK lender failed to follow Wall Street rivals with sharp gains during the period.

HSBC posted investment banking revenue of $279m for the first three months of the year, down by 10%. It said a small number of significant transactions in the first quarter of 2023 bolstered revenue.

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