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HSBC's new CEO wants to exit countries

Apr. 04, 2018 1:09 PM ETHSBC Holdings plc (HSBC) StockHSBCBy: Omer I., SA News Editor3 Comments
  • HSBC's (NYSE:HSBC) newly appointed CEO John Flint is considering shrinking the bank’s global footprint, and expanding the bank's asset management unit as part of an upcoming strategy, according to Bloomberg.
  • Flint is reviewing a quarter of the 67 countries the bank operates in and is mulling an exit or sale from spots like Bermuda, Malta, and Uruguay.
  • The CEO is assessing an independent wealth and asset management unit, as these businesses have historically been part of retail banking.

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