Article taken from: www.chinadailyhk.com
HSBC chairman gives hints of looming strategy revamp By Bloomberg Monday, January 18, 2021, 22:18 By Bloomberg A woman (Left) walks past a HSBC sign in Hong Kong on Feb 18, 2020. The London-based, Asia-focused behemoth HSBC is expected to release its Q4 and 2019 results later on Feb 18, 2020. ISAAC LAWRENCE / AFP) HSBC Holdings Plc plans to accelerate its expansion across Asia in its imminent strategy refresh, according to Chairman Mark Tucker. […] HSBC chairman Mark Tucker said he saw “substantial opportunities” for HSBC’s business in the Chinese mainland’s Greater Bay Area, which encompasses the Hong Kong Special Administrative Region, the bank’s biggest profit center ALSO READ: HSBC’s loyal HK investors find redemption in 55% rally “Economic realities mean that what we were planning to do in February we need to be even more urgent in doing,” Tucker told the virtual Asian Financial Forum on Monday. […] The bank has previously said it will reduce its headcount by 35,000 and target cost reductions in underperforming units in the US and Europe.
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