Dispatches: Trouble at the top for HSBC

Mike Geoghegan will step down as HSBC's chief executive at year's end in an extraordinary shake-up of the global bank's senior team. (The Australian)

Fund manager Prodigal has taken out the top honour at the Australian Hedge Fund Industry Awards with its Absolute Cayman Fund winning the hedge fund of the year prize. (Investor Daily)

Some insurers will have to raise capital as a result of proposed changes to the industry's regulatory capital regime, according to JPMorgan. In a report yesterday, the investment bank said two discussion papers released by APRA would require changes to the "quality and quantity of capital for some insurers" if new standards were implemented as expected. (The Australian)

Returns from bank deposits are easily outpacing superannuation with the average five-year performance of a retirement savings fund barely beating inflation. (The Age)