British behemoth, HSBC, has posted a hefty 15.2% decline in global private banking revenues for the first quarter of 2016, according to the bank’s latest financial statement. Year-to-date, the private bank has taken in US$487 million in revenue, down from US$574 million for the same period last year. HSBC attributes this decline to “lower brokerage and trading activity” in both Europe and…
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