HSBC HSBC Holdings PLC

   By Ian Walker 
 

HSBC Holdings PLC (HSBA.LN) said Monday that it has appointed Jonathan Symonds as deputy chairman with immediate effect, and that he will stand down as chairman of its subsidiary HSBC Bank PLC, but continue as a senior independent director.

Earlier Monday, HSBC reported a 2.4% rise in first-half net profit thanks to fees from money-management services, particularly in Hong Kong.

The U.K. lender said net profit for the six months ended in June increased to $7.17 billion from $7.00 billion. Profit before tax rose 4.6% to $10.71 billion.

Revenue rose 4.3% to $27.29 billion from $26.2 billion on higher margins on deposits and balance growth as well as favorable currency effects, the bank said.

Kenan Machado contributed to this article.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

August 06, 2018 02:31 ET (06:31 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.