HSBC has seen a 10% drop in dealmaking fees in the first quarter of 2024, contrasting sharply with the gains of its Wall Street peers.
![HSBC Canada Square, Canary Wharf. Global headquarters of the one the world’s largest banking and financial services organisations. PHOTO: Verdict/ALP](https://krugmaninsights.com/wp-content/uploads/2024/01/No-return-to-the-office-as-HSBC-embrace-remote-working-1038x778-1-1024x768.webp)
The UK-based bank reported investment banking revenues of $279 million for the first three months, marking a decrease attributed to a smaller volume of high-value deals compared to the previous year.
This downturn contrasts with the performance of other major banks.
For instance, Deutsche Bank enjoyed a