Mar 28, 2022
HSBC removes references to Ukraine ‘war’ from analyst reports
HSBC has repeatedly edited its analysts' research publications to remove references to a "War" in Ukraine, as the UK bank resists pressure to follow rivals by closing its business in Russia. One HSBC commodities research note dated March 22 did include the word "War", in reference to a Bloomberg report. HSBC declined to comment and referred to a previous statement that read: "Our thoughts are with all those impacted by the continuing conflict in Ukraine". A person close to the bank said the issue is sensitive because HSBC has around 200 staff in Russia, where the government has introduced a harsh new law against spreading what it considers false information around the Ukraine war, with prison terms of up to 15 years. HSBC has in the past had to tread a careful line to avoid upsetting Beijing, which has also steadfastly refused to describe the invasion of Ukraine as a war.
Related companies
Make a complaint about HSBC by viewing their customer service contacts.
