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‘Roaring with national pride. Soaring with global dreams,” blared the HSBC Holdings Plc ad outside an upscale Mumbai suburb in December. The 122-foot billboard displayed a tiger stalking over the British bank’s hexagonal red logo a not-too-subtle signal of its ambitions to dominate the financial industry of what’s by some estimates now…
The bank is planting its sights more firmly on the ultra-rich in India, where the wealth held by billionaires has crossed $400 billion from $148 billion in 2016.It also plans to launch an onshore private banking service in the South Asian country this year
Global financial firms, still smarting from multi-billion dollar losses in Russia, are now reassessing the risks of doing business in Greater China after an escalation of tensions over Taiwan.