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“Asia wealth is the new story”: HSBC pivots to Asia with expansion in China and Singapore

Source: HSBC

While reporting its 4Q20 and FY2020 financial results, HSBC announced its “pivoting to Asia” and its zooming in on the region’s burgeoning wealth markets, beyond its traditional focus on Hong Kong. Noel Quinn, chief executive at the UK lender admitted that the bank’s balance sheet has felt the pinch of falling interest rates and the adverse impact of the global…

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