HSBC tops Forbes list
HSBC has celebrated a milestone this month, jumping two places to become the first non-US company to top the prestigious Forbes 2000 list of the world’s largest companies.
The annual index surveys blue chip companies in 26 industries across 60 countries and ranks them according to a composite of sales, profits, assets and market value.
HSBC’s elevation to the top of the list comes on the back of a 26 per cent lift in revenue and a 31 per cent lift in net income over the past five years.
The largest non-banking sector company featured this year was General Electric, which placed second, with Bank of America placing third while last year’s leading company, Citigroup, which has been hard hit as a result of the sub-prime crisis, dropped to 24th.
AUTHOR
Mike Taylor
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
