HSBC Private Bank sells US$12.5 billion of Swiss AUMs, serves 80 less countries

25 June 2014 | 2 minutes read

In a move to make its private bank leaner and forego further venturing into businesses with clients from regions deemed as not strategically important, HSBC Private Bank will look to serve high net worth individuals (HNWIs) from about 70 countries, down from 150. The exits will primarily be achieved by a recent deal the British lender made with Liechtenstein-headquartered LGT…

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