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Melissa Kuang

Research Analyst at Goldman Sachs

Melissa Kuang is an Equity Analyst at Goldman Sachs, specializing in financial sector research with a focus on banks and insurance companies in the Asia-Pacific region. She covers specific companies including UOB Group (SG:U11), DBS Group (SG:D05), and Oversea-Chinese Banking Corporation (SG:O39), achieving a 63% success rate on her recommendations with an average return of +5.00% per rating over a one-year horizon, as tracked by TipRanks where she ranks in the top 50% of Wall Street analysts. Kuang has been active in issuing ratings since at least 2019, with her most profitable call being a Buy on BKRKF generating +32.90% returns, though detailed prior firm experience remains undisclosed in available sources. Her professional credentials include recognition as a Wall Street analyst on platforms like TipRanks, with no specific FINRA registrations publicly detailed.

Melissa Kuang's questions to HSBC HOLDINGS (HSBC) leadership

Question · Q4 2025

Melissa Kuang asked for a CAGR growth pathway for the 5% revenue growth target, inquiring whether it would primarily come from non-banking NII or banking NII. She also requested details on the $0.6 billion HSBC restructuring cost, its focus, and the timing of revenue synergies.

Answer

Group Chief Risk and Compliance Officer Pam Kaur stated that revenue growth is positive and progressive, reaching 5% by 2027-2028. She noted that 2026 would see low single-digit Banking NII growth and stronger momentum in fee-generating businesses, with balance sheet growth expected beyond 2026. Pam Kaur explained that the restructuring cost covers organizational alignment and significant technology investment for harmonization, aiming for a $900 million benefit by end-2028, with costs spread over three years. Group CFO Georges Elhedery added that HSBC is a net investor in people and technology in Hong Kong, with no planned redundancies.

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