HSBC to combine private bank, wealth and retail into single global division

18 February 2020 | 4 minutes read

HSBC will combine its Global Private Banking and Retail Banking and Wealth Management (RBWM) divisions in a bid to further simplify the bank’s organisational structure as part of a wide-ranging group-wide revamp for which the bank has taken US$7.3 billion charge. While the bank is planning to scale back and reshape a number of less profitable businesses, including in the…

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