Financial stocks were leaning lower pre-bell Monday, with The Financial Select Sector SPDR Fund (XLF) down 0.5%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.4% higher.

HSBC (HSBC) will allocate $4 billion to its private credit funds, Reuters reported, citing an interview with Nicolas Moreau, chief executive of the company's asset management business. HSBC Holdings shares were up 0.5% premarket.

Citigroup (C) has appointed Wenjie Zhang as its country head and banking head for China, as well as the president and executive director of Citibank China, multiple media outlets reported, citing a statement from the bank. The company's stock was down 0.5% pre-bell.