HSBC to prune global op­er­a­tions

India Business Journal - - GLOBAL WRAP-UP -

HSBC Hold­ings CEO John Flint and Chair­man Mark Tucker are con­sid­er­ing shrink­ing the bank's global im­print even fur­ther. This is a part of the bank's plan set to be re­vealed over com­ing months, ac­cord­ing to peo­ple with knowl­edge of the dis­cus­sions. Mr Flint, who took over in Fe­bru­ary, is re­view­ing as many as a quar­ter of the 67 coun­tries the bank op­er­ates in and is mulling an exit or sale from smaller con­sumer op­er­a­tions, such as Ber­muda, Malta and Uruguay. The CEO is also look­ing at ex­pand­ing the bank's as­set man­age­ment unit.

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