Barclays and HSBC bankers donate over $500k in US midterms
Barclays and HSBC bankers donated over half a million dollars to US political candidates ahead of the midterm elections. Bankers who are employed at the two UK-headquartered giants flooded cash into US political figures as millions of Americans headed to the polls. Donors listing Barclays or one of its subsidiaries as an employer contributed just [...]
Barclays and HSBC bankers contributed more than $500,000 to political candidates in the US ahead of the midterm elections, according to Federal Election Commission data. Barclays staff alone donated $344,000, with a significant $70,000 gift from chairman Alexander Lynch to the House Victory Project, a fund supporting Democrat candidates.
HSBC employees gave $163,000, led by Mark Schuermann, head of public affairs in the US, who contributed around $18,000 to the bank's Political Action Committee (PAC). HSBC's PACs are employee-formed, non-controlled committees that support candidates across all political parties. The banks, both UK-headquartered, have substantial operations in the US, focusing on international banking, wealth management, and wholesale markets.
Among the major UK banks, Barclays and HSBC have the strongest presence in the US. Other UK banks, such as Natwest and Lloyds, saw much smaller donations. Barclays maintains a neutral stance, emphasizing that its employees must keep any political activity separate from their professional duties. The US midterms will decide all 435 House seats and 35 Senate seats, with the elections seen as a referendum on Donald Trump.
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