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HSBC revamping Asia-Pacific business

Published 01/11/2018, 05:34 AM
© Reuters.  HSBC revamping Asia-Pacific business
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  • HSBC has made a bunch of hires from rivals including Goldman Sachs (NYSE:GS) as the bank revamps its equities business in the Asia-Pacific region and expands a majority-owned securities venture in China, Bloomberg reports.
  • Expanding HSBC's China business has been one of the top priorities of outgoing CEO Stuart Gulliver, who sees the bank's business in the Pearl River Delta region generating an additional $1B of pretax profit over the coming five years.
  • Now read: HSBC: Still More Of A Hong Kong Than A Global Or U.K. Bank


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