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HSBC profit jumps as vaccine rollout spurs recovery hopes
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HSBC profit rises 79% as vaccine rollout sparks improved outlook
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HSBC to Prune Investment Bank to Fund Expansion in Asian Wealth
Bloomberg 2/23/2021 Harry Wilson and Ambereen Choudhury
(Bloomberg) HSBC Holdings Plc will shift billions of dollars of investment to Asia’s faster growing economies as it looks to become the go-to bank for the region’s wealthy.
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The London-based bank said it would divert capital from its investment bank in Europe and the U.S. to fund the expansion of its Asian businesses. Europe’s largest lender said it would spend more than $6 billion over the next five years to expand its Asian operations, in particular its wealth management arm.
HSBC to Prune Investment Bank to Fund Expansion in Asian Wealth
Bloomberg 2/23/2021 Harry Wilson and Ambereen Choudhury
(Bloomberg) HSBC Holdings Plc will shift billions of dollars of investment to Asia’s faster growing economies as it looks to become the go-to bank for the region’s wealthy.
Popular Searches
The London-based bank said it would divert capital from its investment bank in Europe and the U.S. to fund the expansion of its Asian businesses. Europe’s largest lender said it would spend more than $6 billion over the next five years to expand its Asian operations, in particular its wealth management arm.